https://www.taxtmi.com/caselaws?id=344570 Declared transaction value of imported used machinery cannot be rejected merely because a local chartered engineer report suggests a higher value; where the import is supported by an originating certificate and there is no independent basis to discredit it, reassessment on competing expert opinion alone is unsustainable. The goods, being more than ten years old and imported contrary to the applicable import control regime, were nevertheless liable to confiscation and penalty under customs law. On the facts, confiscation and penalty were upheld in principle, but the redemption fine and penalty were reduced as excessive. en-us Fri, 16 Jun 2017 00:00:00 +0530 Mon, 29 Jan 2018 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344570 Declared transaction value of imported used machinery cannot be rejected merely because a local chartered engineer report suggests a higher value; where the import is supported by an originating certificate and there is no independent basis to discredit it, reassessment on competing expert opinion alone is unsustainable. The goods, being more than ten years old and imported contrary to the applicable import control regime, were nevertheless liable to confiscation and penalty under customs law. On the facts, confiscation and penalty were upheld in principle, but the redemption fine and penalty were reduced as excessive. Case-Laws Customs Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344570