https://www.taxtmi.com/caselaws?id=88197 An imported machine could not be valued by reference to the price of an alleged comparable U.K. machine because the record lacked sufficient particulars to establish identity or similarity, including model, size and import circumstances. In the absence of a reliable comparable, the foreign price was rejected as a valuation basis. The assessable value was then fixed on the documentary FOB value disclosed by the record, as the importer did not prove that the machine was old or that the declared value reflected a new-machine price. Because the valuation was substantially reduced, the redemption fine was also reduced. en-us Fri, 27 Mar 1998 00:00:00 +0530 Thu, 15 Sep 2011 17:36:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=88197 An imported machine could not be valued by reference to the price of an alleged comparable U.K. machine because the record lacked sufficient particulars to establish identity or similarity, including model, size and import circumstances. In the absence of a reliable comparable, the foreign price was rejected as a valuation basis. The assessable value was then fixed on the documentary FOB value disclosed by the record, as the importer did not prove that the machine was old or that the declared value reflected a new-machine price. Because the valuation was substantially reduced, the redemption fine was also reduced. Case-Laws Customs Fri, 27 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=88197