https://www.taxtmi.com/caselaws?id=102785 Customs valuation of imported second-hand machinery must ordinarily proceed on declared transaction value unless it is validly rejected on reliable evidence; an unverified foreign manufacturer's price reference alone is insufficient where the importer supports the declaration with documentary material. The valuation scheme also requires a sequential application of the Customs Valuation Rules, with recorded reasons before bypassing intermediate methods and resorting to the residual method. Non-disclosure of relied-upon material, including the SIB circular and enclosure, violates natural justice. The impugned valuation orders were set aside and the matters remitted for de novo consideration after disclosure and hearing. en-us Tue, 11 Jun 2002 00:00:00 +0530 Thu, 16 Feb 2012 11:28:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102785 Customs valuation of imported second-hand machinery must ordinarily proceed on declared transaction value unless it is validly rejected on reliable evidence; an unverified foreign manufacturer's price reference alone is insufficient where the importer supports the declaration with documentary material. The valuation scheme also requires a sequential application of the Customs Valuation Rules, with recorded reasons before bypassing intermediate methods and resorting to the residual method. Non-disclosure of relied-upon material, including the SIB circular and enclosure, violates natural justice. The impugned valuation orders were set aside and the matters remitted for de novo consideration after disclosure and hearing. Case-Laws Customs Tue, 11 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102785