Penalty u/s 114AA levied for misdeclaration of value of imported goods

S.D. Overseas Vs Joint Commissioner of Customs (CESTAT Delhi) Penalty u/s 114AA leviable in case of misdeclaration of the value of the imported goods as per the manufacturer’s price lists. Facts- The appellant had imported a consignment of Food Supplements through ICD, Tughlakabad and filed a Bill of Entry dated 04.01.2013 and the goods were cleared on 05.01.2013. Thereafter, officers initiated an enquiry based on the intelligence report. A show-cause notice was issued to the appellant calling upon it to explain as to why the declared assessable value should not be rejected under Rule 12 of ...