https://www.taxtmi.com/caselaws?id=92613 Customs valuation of an imported used car was fixed on the basis of available market reference because the actual purchase price was not evidenced. The 1983 model's assessable value was worked out by allowing trade discount and depreciation, then adding insurance and freight to reach CIF value. The valuation method was treated as reasonable, and no illegality was shown in the assessment process. On that basis, the assessable value was accepted for customs duty purposes and the duty demand was upheld. en-us Thu, 04 Nov 1999 00:00:00 +0530 Wed, 02 Nov 2011 18:13:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92613 Customs valuation of an imported used car was fixed on the basis of available market reference because the actual purchase price was not evidenced. The 1983 model's assessable value was worked out by allowing trade discount and depreciation, then adding insurance and freight to reach CIF value. The valuation method was treated as reasonable, and no illegality was shown in the assessment process. On that basis, the assessable value was accepted for customs duty purposes and the duty demand was upheld. Case-Laws Customs Thu, 04 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92613