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2024 (1) TMI 231 - KARNATAKA HIGH COURTRelease of the goods seized - Validity of conditions imposed by the Ld. Single Judge for relase of goods - Legality and validity of restatement and reappraisal of transaction value - HELD THAT:- The concern of the State that the valuation of the petitioner being defective and actual valuation being much higher cannot be ignored though the aspect of valuation is also a matter for adjudication. However, it would be appropriate to put the petitioner on terms by ensuring that the valuation of the goods as determined by the revenue is realizable if the validity of the proceedings under section 130 of the Act are upheld. Conditions of the release order modified. The appeals are disposed off in terms of the modifying the orders of the learned Single Judge dated 25.09.2023.
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