https://www.taxtmi.com/caselaws?id=344571 The Tribunal held that the customs authorities erred in disregarding the overseas Chartered Engineer certificate without valid reasons and relying solely on the local assessment. The declared value supported by the overseas certificate was deemed acceptable, emphasizing the need for valid reasons to reject expert opinions. The goods, being over 10 years old, violated trade regulations, resulting in confiscation and penalties. The Tribunal reduced the redemption fine and penalty, highlighting the importance of following legal procedures in customs valuation disputes and considering expert opinions with sufficient independent reasons. en-us Fri, 16 Jun 2017 00:00:00 +0530 Mon, 28 Aug 2017 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344571 The Tribunal held that the customs authorities erred in disregarding the overseas Chartered Engineer certificate without valid reasons and relying solely on the local assessment. The declared value supported by the overseas certificate was deemed acceptable, emphasizing the need for valid reasons to reject expert opinions. The goods, being over 10 years old, violated trade regulations, resulting in confiscation and penalties. The Tribunal reduced the redemption fine and penalty, highlighting the importance of following legal procedures in customs valuation disputes and considering expert opinions with sufficient independent reasons. Case-Laws Customs Fri, 16 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344571