https://www.taxtmi.com/caselaws?id=188075 Declared transaction value of imported second-hand machinery cannot be rejected merely because the goods are old or the age is disputed. The Revenue must produce independent evidence of undervaluation or contemporaneous imports before enhancing value. In the absence of such material, age-related deduction or reassessment does not justify displacement of the invoice value. The stated principle is that the burden remains on the Revenue to prove grounds for rejection of transaction value, and where no contemporaneous import data or other evidence of undervaluation is shown, the declared value must be accepted. en-us Fri, 26 May 2006 00:00:00 +0530 Thu, 17 Nov 2016 13:04:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188075 Declared transaction value of imported second-hand machinery cannot be rejected merely because the goods are old or the age is disputed. The Revenue must produce independent evidence of undervaluation or contemporaneous imports before enhancing value. In the absence of such material, age-related deduction or reassessment does not justify displacement of the invoice value. The stated principle is that the burden remains on the Revenue to prove grounds for rejection of transaction value, and where no contemporaneous import data or other evidence of undervaluation is shown, the declared value must be accepted. Case-Laws Customs Fri, 26 May 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188075