https://www.taxtmi.com/caselaws?id=92960 Declared transaction value for imported second-hand machinery is entitled to primacy under Section 14 and Rule 4, even where the goods are used or reconditioned. The declared invoice value may be rejected only on cogent evidence showing it is unreliable, such as contemporaneous higher imports of like goods, fraud, abnormal consideration, or other material displacing Rule 4. In the absence of such evidence, valuation cannot be moved directly to Rule 8 by applying a depreciated new-machinery method. The stated principle is that notional valuation based on depreciated new-goods prices is impermissible unless the declared transaction value is first lawfully rejected. en-us Thu, 06 May 1999 00:00:00 +0530 Mon, 07 Nov 2011 13:55:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92960 Declared transaction value for imported second-hand machinery is entitled to primacy under Section 14 and Rule 4, even where the goods are used or reconditioned. The declared invoice value may be rejected only on cogent evidence showing it is unreliable, such as contemporaneous higher imports of like goods, fraud, abnormal consideration, or other material displacing Rule 4. In the absence of such evidence, valuation cannot be moved directly to Rule 8 by applying a depreciated new-machinery method. The stated principle is that notional valuation based on depreciated new-goods prices is impermissible unless the declared transaction value is first lawfully rejected. Case-Laws Customs Thu, 06 May 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92960