Collector Of Customs vs M/S.Television & Components Ltd. And ...

The Supreme Court addressed the importation of Tape Deck Mechanisms (TDMs) by the respondent, which were allegedly undervalued, violating the Import and Export (Control) Act, 1947 and the Import Control Order, 1955. The Court upheld the Collector's findings of deliberate mis-declaration and evasion of customs duty under Section 111(m) and Section 111(d) of the Customs Act, 1962, affirming the imposition of a penalty of Rs. 40 lakh on the respondent and Rs. 5 lakh each on its directors. The Court concluded that the respondent was liable for the differential duty and penalties imposed by the Collector, thereby reinforcing the enforcement of customs regulations.