Allegation of undervaluation of imported goods based on retracted statements unsustainable

Junaid Kudia Vs Commissioner of Customs (CESTAT Mumbai) CESTAT Mumbai held that demand alleging undervaluation of imported goods merely on the basis of retracted statements without corroborative evidences is unsustainable in law. Facts- The officers of Directorate of Revenue Intelligence (DRI), had gathered intelligence that the appellant company is involved in under­valuation of varieties of bags and other accessories, falling under CTH 39269099, 420222290, 73182990, 83089099, 96081019 etc. On 11-04-2017, the DRI officers visited the business premises of the importer. Simultaneously, a searc...