https://www.taxtmi.com/caselaws?id=218067 Declared transaction value of old and used imported machinery may be rejected where surrounding circumstances create genuine doubt about correctness, including inconsistency with certified age, residual life, working condition and technology, and where the invoice originates from a scrap dealer rather than the original user or manufacturer. In such cases, reassessment under Rule 8 may be applied if earlier valuation methods are unworkable. A Chartered Engineer's certificate need not be accepted as an indivisible whole: factual findings on manufacture and condition may be relied on, while an unsupported opinion on value may be rejected. The reassessed value was upheld and the enhanced assessable value restored. en-us Tue, 24 Jan 2012 00:00:00 +0530 Fri, 02 Nov 2012 16:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218067 Declared transaction value of old and used imported machinery may be rejected where surrounding circumstances create genuine doubt about correctness, including inconsistency with certified age, residual life, working condition and technology, and where the invoice originates from a scrap dealer rather than the original user or manufacturer. In such cases, reassessment under Rule 8 may be applied if earlier valuation methods are unworkable. A Chartered Engineer's certificate need not be accepted as an indivisible whole: factual findings on manufacture and condition may be relied on, while an unsupported opinion on value may be rejected. The reassessed value was upheld and the enhanced assessable value restored. Case-Laws Customs Tue, 24 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218067