https://www.taxtmi.com/caselaws?id=240250 Valuation of a used imported car could not be finally sustained on the existing record where the acceptance of the declared assessable value depended on catalogue prices and deductions for VAT, trade discount and depreciation, but the evidentiary basis for those adjustments remained unverified. The tribunal found that the materials relied on were insufficient for a conclusive determination and that the importer had to be given the referenced material and an opportunity of hearing. The order accepting the declared value and reducing the redemption fine and penalty was set aside, and the matter was remanded for de novo decision on valuation and consequential reliefs. en-us Wed, 29 May 2013 00:00:00 +0530 Fri, 29 Nov 2013 06:17:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240250 Valuation of a used imported car could not be finally sustained on the existing record where the acceptance of the declared assessable value depended on catalogue prices and deductions for VAT, trade discount and depreciation, but the evidentiary basis for those adjustments remained unverified. The tribunal found that the materials relied on were insufficient for a conclusive determination and that the importer had to be given the referenced material and an opportunity of hearing. The order accepting the declared value and reducing the redemption fine and penalty was set aside, and the matter was remanded for de novo decision on valuation and consequential reliefs. Case-Laws Customs Wed, 29 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240250