https://www.taxtmi.com/caselaws?id=344344 The Tribunal upheld the appellant's declared value of the imported offset printing machine, rejecting the local assessment and confiscation based on a Chartered Engineer certificate discrepancy. The rejection of the overseas certificate lacked sufficient independent reasons, leading to the invalidation of the reassessment. The decision emphasized the importance of valid reasons for rejecting expert certificates. The Tribunal also reduced the redemption fine and penalty amount imposed on the importers for non-compliance with trade regulations regarding the age of the imported goods under the Customs Act. en-us Tue, 13 Jun 2017 00:00:00 +0530 Fri, 25 Aug 2017 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344344 The Tribunal upheld the appellant's declared value of the imported offset printing machine, rejecting the local assessment and confiscation based on a Chartered Engineer certificate discrepancy. The rejection of the overseas certificate lacked sufficient independent reasons, leading to the invalidation of the reassessment. The decision emphasized the importance of valid reasons for rejecting expert certificates. The Tribunal also reduced the redemption fine and penalty amount imposed on the importers for non-compliance with trade regulations regarding the age of the imported goods under the Customs Act. Case-Laws Customs Tue, 13 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344344