https://www.taxtmi.com/caselaws?id=115193 Second-hand equipment used as office equipment for rendering services qualified as capital goods under the EXIM Policy and was therefore freely importable; the confiscation based on section 111(d) of the Customs Act could not stand once the import was held permissible. Customs valuation could not be enhanced merely on Internet price listings in the absence of contemporaneous evidence of comparable imports at higher prices, so the declared transaction value was accepted. The import was thus treated as lawful and the valuation enhancement was set aside, giving relief to the assessee. en-us Mon, 07 Feb 2005 00:00:00 +0530 Thu, 24 May 2012 15:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115193 Second-hand equipment used as office equipment for rendering services qualified as capital goods under the EXIM Policy and was therefore freely importable; the confiscation based on section 111(d) of the Customs Act could not stand once the import was held permissible. Customs valuation could not be enhanced merely on Internet price listings in the absence of contemporaneous evidence of comparable imports at higher prices, so the declared transaction value was accepted. The import was thus treated as lawful and the valuation enhancement was set aside, giving relief to the assessee. Case-Laws Customs Mon, 07 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115193