https://www.taxtmi.com/caselaws?id=1158 The Supreme Court upheld the Tribunal's decision in a case concerning the assessable value of an imported car, ruling that post-import depreciation cannot be factored in. The Court emphasized that valuation under the Customs Act must align with the importation time, disregarding delays in clearance. The decision reaffirmed the principle that assessable value should be based on conditions at the time of importation, excluding post-import activities. The appellant's appeal was dismissed without costs, highlighting the importance of adhering to valuation principles at the time of importation. en-us Wed, 04 Apr 2007 00:00:00 +0530 Mon, 14 Apr 2008 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1158 The Supreme Court upheld the Tribunal's decision in a case concerning the assessable value of an imported car, ruling that post-import depreciation cannot be factored in. The Court emphasized that valuation under the Customs Act must align with the importation time, disregarding delays in clearance. The decision reaffirmed the principle that assessable value should be based on conditions at the time of importation, excluding post-import activities. The appellant's appeal was dismissed without costs, highlighting the importance of adhering to valuation principles at the time of importation. Case-Laws Customs Wed, 04 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1158