https://www.taxtmi.com/caselaws?id=82126 The Tribunal found in favor of the appellant company in a case concerning the enhancement of value of imported secondhand machinery. The Assistant Collector's arbitrary enhancement of value based on a depreciation rate of 7% per annum for eight years was deemed unjustified. The appellant successfully argued against the lack of expert evidence in determining the enhanced value and highlighted discrepancies in the valuation process. The Tribunal emphasized the validity of the Chartered Engineer's certificate in assessing declared value and concluded that the Department's actions were arbitrary and lacked substantial evidence, leading to a decision in favor of the appellants. en-us Tue, 10 Mar 1992 00:00:00 +0530 Sat, 02 Jul 2011 11:20:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82126 The Tribunal found in favor of the appellant company in a case concerning the enhancement of value of imported secondhand machinery. The Assistant Collector's arbitrary enhancement of value based on a depreciation rate of 7% per annum for eight years was deemed unjustified. The appellant successfully argued against the lack of expert evidence in determining the enhanced value and highlighted discrepancies in the valuation process. The Tribunal emphasized the validity of the Chartered Engineer's certificate in assessing declared value and concluded that the Department's actions were arbitrary and lacked substantial evidence, leading to a decision in favor of the appellants. Case-Laws Customs Tue, 10 Mar 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82126