https://www.taxtmi.com/caselaws?id=118165 A detailed chartered engineer valuation report based on inspection, condition assessment, missing parts and performance checks should not be rejected without cogent reasons; on those facts, the assessable value of imported second-hand photocopiers was to be adopted on the basis of the Moody International certificate. The commentary also states that second-hand photocopiers were importable without licence under the relevant Foreign Trade Policy, so confiscation for want of an import licence could not be sustained. The assessees therefore succeeded on both valuation and licence-related confiscation issues, and the Revenue's challenge failed. en-us Tue, 21 Mar 2006 00:00:00 +0530 Thu, 28 Jun 2012 18:05:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118165 A detailed chartered engineer valuation report based on inspection, condition assessment, missing parts and performance checks should not be rejected without cogent reasons; on those facts, the assessable value of imported second-hand photocopiers was to be adopted on the basis of the Moody International certificate. The commentary also states that second-hand photocopiers were importable without licence under the relevant Foreign Trade Policy, so confiscation for want of an import licence could not be sustained. The assessees therefore succeeded on both valuation and licence-related confiscation issues, and the Revenue's challenge failed. Case-Laws Customs Tue, 21 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118165