Mere Acceptance of Reassessed Value and Payment Will not be Sufficient to Confirm the Allegation of Under Valuation of Imported Brass Ceramic Cartridge: CESTAT sets aside Penalty under Customs Act [Read Order]

By Yogitha S. Yogesh - On November 2, 2023 2:30 pm - 3 mins read
Mere Acceptance - Reassessed Value - Confirm the Allegation - Brass Ceramic Cartridge - Customs Act - Under Valuation - CESTAT News - Excise - Customs - Tax News - TAXSCAN

The Delhi bench of the Customs, Excise & Service Tax Appellate Tribunal(CESTAT) has held that mere acceptance of reassessed value and payment will not sufficient to confirm the allegation of undervaluation of imported brass ceramic cartridge and set aside Penalty under Customs Act, 1961. M/s River Side Impex, the appellant filed a Bill of Entry…

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