https://www.taxtmi.com/caselaws?id=84539 The case involved the valuation of second-hand imported machinery by an expert opinion, comparing it with contemporaneous imports. The Customs House found discrepancies in the declared value and the actual value, leading to an increase in the assessable value based on the expert's assessment. The Tribunal upheld the valuation using the best judgment principle, citing impracticality in exact comparisons for second-hand machinery. Despite a dissenting opinion questioning the comparison in valuation, the majority decision rejected the appeal due to the lack of evidence challenging the valuation, affirming the increased assessable value. en-us Mon, 11 Sep 1995 00:00:00 +0530 Fri, 22 Jul 2011 15:40:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84539 The case involved the valuation of second-hand imported machinery by an expert opinion, comparing it with contemporaneous imports. The Customs House found discrepancies in the declared value and the actual value, leading to an increase in the assessable value based on the expert's assessment. The Tribunal upheld the valuation using the best judgment principle, citing impracticality in exact comparisons for second-hand machinery. Despite a dissenting opinion questioning the comparison in valuation, the majority decision rejected the appeal due to the lack of evidence challenging the valuation, affirming the increased assessable value. Case-Laws Customs Mon, 11 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84539