https://www.taxtmi.com/caselaws?id=184347 The Supreme Court ruled in favor of the assessee in a case involving the re-assessment of second-hand machines imported based on Ministry's Instructions. The Court emphasized the acceptance of transaction value under Section 14 of the Customs Act, highlighting the need for special reasons to reject it. The decision clarified the significance of transaction value, limitations on rejecting it, and the importance of following established legal principles in customs valuation matters. The Court set aside the impugned order and directed the Department to frame the final assessment in accordance with the Supreme Court's ruling. en-us Fri, 04 Jul 2008 00:00:00 +0530 Wed, 06 Jul 2016 12:29:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184347 The Supreme Court ruled in favor of the assessee in a case involving the re-assessment of second-hand machines imported based on Ministry's Instructions. The Court emphasized the acceptance of transaction value under Section 14 of the Customs Act, highlighting the need for special reasons to reject it. The decision clarified the significance of transaction value, limitations on rejecting it, and the importance of following established legal principles in customs valuation matters. The Court set aside the impugned order and directed the Department to frame the final assessment in accordance with the Supreme Court's ruling. Case-Laws Customs Fri, 04 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184347