https://www.taxtmi.com/caselaws?id=336930 Second-hand digital multi-functional printers are treated as restricted imports under the Foreign Trade Policy when no required import licence is produced, so confiscation under customs law is justified notwithstanding the existence of a separate NOC. For valuation of second-hand machinery, the assessable value may be based on a Chartered Engineer's certificate where contemporaneous comparable imports are unavailable, especially when supported by policy and prior approval for such assessment. The Tribunal also noted that redemption fine and penalty may be moderated on the facts, and reduced both to align with earlier practice in comparable imports. en-us Thu, 22 Dec 2016 00:00:00 +0530 Tue, 22 Aug 2017 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336930 Second-hand digital multi-functional printers are treated as restricted imports under the Foreign Trade Policy when no required import licence is produced, so confiscation under customs law is justified notwithstanding the existence of a separate NOC. For valuation of second-hand machinery, the assessable value may be based on a Chartered Engineer's certificate where contemporaneous comparable imports are unavailable, especially when supported by policy and prior approval for such assessment. The Tribunal also noted that redemption fine and penalty may be moderated on the facts, and reduced both to align with earlier practice in comparable imports. Case-Laws Customs Thu, 22 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336930