https://www.taxtmi.com/caselaws?id=91864 Imported used computers must be valued by reference to their rapid obsolescence and computer-specific depreciation norms rather than norms applicable to ordinary machinery. Applying machinery depreciation to determine assessable value was treated as incorrect, requiring fresh valuation. Eligibility for import as capital goods for use in a chartered accountancy service industry also requires examination under the import policy applicable to the relevant period and the underlying facts. Both valuation and import eligibility were remitted for fresh determination, and the prior assessment approach was not sustained. en-us Tue, 22 Jun 1999 00:00:00 +0530 Fri, 21 Oct 2011 15:36:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=91864 Imported used computers must be valued by reference to their rapid obsolescence and computer-specific depreciation norms rather than norms applicable to ordinary machinery. Applying machinery depreciation to determine assessable value was treated as incorrect, requiring fresh valuation. Eligibility for import as capital goods for use in a chartered accountancy service industry also requires examination under the import policy applicable to the relevant period and the underlying facts. Both valuation and import eligibility were remitted for fresh determination, and the prior assessment approach was not sustained. Case-Laws Customs Tue, 22 Jun 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=91864