https://www.taxtmi.com/caselaws?id=118719 Declared transaction value of imported second-hand machinery should not be rejected, and its value or age should not be enhanced, without cogent contrary evidence. The commentary notes that reliance on a locally obtained chartered engineer's certificate, where a foreign chartered engineer's certificate supported the declared age and market value, was not a proper basis for rejecting the invoice value. On that reasoning, confiscation, redemption fine and penalty based on the enhanced valuation could not be sustained, and consequential relief followed for the importer. en-us Mon, 13 Jun 2005 00:00:00 +0530 Thu, 05 Jul 2012 12:56:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118719 Declared transaction value of imported second-hand machinery should not be rejected, and its value or age should not be enhanced, without cogent contrary evidence. The commentary notes that reliance on a locally obtained chartered engineer's certificate, where a foreign chartered engineer's certificate supported the declared age and market value, was not a proper basis for rejecting the invoice value. On that reasoning, confiscation, redemption fine and penalty based on the enhanced valuation could not be sustained, and consequential relief followed for the importer. Case-Laws Central Excise Mon, 13 Jun 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118719