https://www.taxtmi.com/caselaws?id=80217 For customs valuation of a used imported car, depreciation is not confined to the first four years of use where the vehicle is older than that period at importation. The valuation must reflect ordinary market depreciation, and any further reduction beyond the fourth year cannot be fixed by a rigid scale; it must be assessed on the facts of the case on an ad hoc basis. On that approach, additional depreciation was warranted for the fifth year and each succeeding year, and the assessable value had to be recomputed accordingly. en-us Tue, 31 May 1988 00:00:00 +0530 Wed, 15 Jun 2011 15:05:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=80217 For customs valuation of a used imported car, depreciation is not confined to the first four years of use where the vehicle is older than that period at importation. The valuation must reflect ordinary market depreciation, and any further reduction beyond the fourth year cannot be fixed by a rigid scale; it must be assessed on the facts of the case on an ad hoc basis. On that approach, additional depreciation was warranted for the fifth year and each succeeding year, and the assessable value had to be recomputed accordingly. Case-Laws Customs Tue, 31 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=80217