https://www.taxtmi.com/caselaws?id=94725 Customs valuation of imported second-hand machinery must begin with the declared transaction value under the Customs Act. The value may be rejected only after the department records reasons, gives the importer an effective opportunity to respond, and applies the valuation rules sequentially. A mechanical depreciation-based method cannot displace transaction value before lawful rejection under the earlier valuation rules. Effective hearing requires consideration of the importer's objections and submissions in a reasoned speaking order. Valuation was therefore required to be reconsidered through fresh adjudication after hearing the importers and considering relevant submissions and judgments. en-us Wed, 10 May 2000 00:00:00 +0530 Sat, 03 Dec 2011 13:16:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94725 Customs valuation of imported second-hand machinery must begin with the declared transaction value under the Customs Act. The value may be rejected only after the department records reasons, gives the importer an effective opportunity to respond, and applies the valuation rules sequentially. A mechanical depreciation-based method cannot displace transaction value before lawful rejection under the earlier valuation rules. Effective hearing requires consideration of the importer's objections and submissions in a reasoned speaking order. Valuation was therefore required to be reconsidered through fresh adjudication after hearing the importers and considering relevant submissions and judgments. Case-Laws Customs Wed, 10 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94725