https://www.taxtmi.com/caselaws?id=89826 In valuation of imported second-hand machinery, transaction value under the Customs Valuation Rules remains the primary basis and may be rejected only on the statutory grounds recognised in Rule 4, such as proof that the invoice is not genuine or that the price is otherwise vitiated. An incorrect year of manufacture in the Chartered Engineer's certificate, by itself, did not establish fraud, abnormal consideration, or any other disqualifying circumstance. Resort to best judgment valuation under Rule 8 was therefore not permissible, and the declared invoice value had to be accepted. en-us Tue, 11 Aug 1998 00:00:00 +0530 Thu, 29 Sep 2011 18:31:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=89826 In valuation of imported second-hand machinery, transaction value under the Customs Valuation Rules remains the primary basis and may be rejected only on the statutory grounds recognised in Rule 4, such as proof that the invoice is not genuine or that the price is otherwise vitiated. An incorrect year of manufacture in the Chartered Engineer's certificate, by itself, did not establish fraud, abnormal consideration, or any other disqualifying circumstance. Resort to best judgment valuation under Rule 8 was therefore not permissible, and the declared invoice value had to be accepted. Case-Laws Customs Tue, 11 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=89826