https://www.taxtmi.com/caselaws?id=124958 Declared transaction value for imported second-hand machinery cannot be rejected or enhanced merely by reference to contemporaneous imports. Where the importer supports the declared price with a Chartered Engineer's certificate and there is no contrary local examination or other valid evidence to displace that valuation, the customs authority must accept the declared value for assessment. On that basis, enhancement of assessable value was unjustified, and the penalty founded on the enhancement also failed. The assessment was therefore directed to proceed on the declared value without the impugned addition or penalty. en-us Mon, 15 Sep 2008 00:00:00 +0530 Wed, 17 Oct 2012 15:20:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124958 Declared transaction value for imported second-hand machinery cannot be rejected or enhanced merely by reference to contemporaneous imports. Where the importer supports the declared price with a Chartered Engineer's certificate and there is no contrary local examination or other valid evidence to displace that valuation, the customs authority must accept the declared value for assessment. On that basis, enhancement of assessable value was unjustified, and the penalty founded on the enhancement also failed. The assessment was therefore directed to proceed on the declared value without the impugned addition or penalty. Case-Laws Customs Mon, 15 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124958