2007 (8) TMI 31 - SCH - Customs

Valuation(Custom) - Department alleged that the assessee has undervalued the imported good i.e. vatted malted and therefore he has require to pay the balance amount to foreign buyer - Held that department contention was not correct and accordingly dismissed

Summary

The Supreme Court of India ruled on a case involving alleged under-valuation by an importer of vatted malted spirit. The Department claimed an additional lb1.56 lakhs should be added to the declared value of lb6.26 lakhs, but the Court found no evidence of under-valuation. The civil appeals filed by the Department were dismissed.