https://www.taxtmi.com/caselaws?id=118336 Import of a second-hand motor car by a tour operator was held impermissible because the import policy treated motor cars as restricted goods and the specific entitlement regime for tourism entities prevailed over the general permission for second-hand capital goods. The confiscation was therefore upheld. Reassessment of the declared value was also sustained because customs valued the car by reference to the manufacturer's list price after trade discount and depreciation, a method accepted as consistent with customs practice. The penalty, however, was moderated in light of the facts and circumstances and reduced to a lower amount. en-us Tue, 25 Jul 2006 00:00:00 +0530 Sat, 30 Jun 2012 10:09:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118336 Import of a second-hand motor car by a tour operator was held impermissible because the import policy treated motor cars as restricted goods and the specific entitlement regime for tourism entities prevailed over the general permission for second-hand capital goods. The confiscation was therefore upheld. Reassessment of the declared value was also sustained because customs valued the car by reference to the manufacturer's list price after trade discount and depreciation, a method accepted as consistent with customs practice. The penalty, however, was moderated in light of the facts and circumstances and reduced to a lower amount. Case-Laws Customs Tue, 25 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118336