https://www.taxtmi.com/circulars?id=4114 When an assessing officer has reason to doubt the truth or accuracy of the declared value of imported second hand machinery, the officer should invoke the procedural deeming provision in Rule 12 to seek further information; if reasonable doubt remains, the declared value may be rejected and value re determined under Rule 9 by reference to the certified price of a new machine scaled down by depreciation, supported by an independent Chartered Engineer's certificate detailing manufacture year, condition, reconditioning and expected life. en-us Tue, 12 Feb 2008 00:00:00 +0530 Fri, 15 Feb 2008 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4114 When an assessing officer has reason to doubt the truth or accuracy of the declared value of imported second hand machinery, the officer should invoke the procedural deeming provision in Rule 12 to seek further information; if reasonable doubt remains, the declared value may be rejected and value re determined under Rule 9 by reference to the certified price of a new machine scaled down by depreciation, supported by an independent Chartered Engineer's certificate detailing manufacture year, condition, reconditioning and expected life. Circulars Customs Tue, 12 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4114