https://www.taxtmi.com/caselaws?id=374982 Declared transaction value remains the primary basis for valuing imported second-hand machinery, and it cannot be rejected merely because the year of make is not ascertainable or because a Chartered Engineer's report suggests a different value. The record must establish misdeclaration, fraud, manipulation, or other exceptional circumstances before departure from the invoice value is justified. On the facts discussed, the appellate authority found no such proved grounds, noted consistency with the valuation principles for second-hand machinery, and upheld acceptance of the declared value. The Revenue's challenge therefore failed, and valuation had to proceed on the transaction value basis. en-us Tue, 22 Jan 2019 00:00:00 +0530 Sat, 22 Jun 2019 11:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374982 Declared transaction value remains the primary basis for valuing imported second-hand machinery, and it cannot be rejected merely because the year of make is not ascertainable or because a Chartered Engineer's report suggests a different value. The record must establish misdeclaration, fraud, manipulation, or other exceptional circumstances before departure from the invoice value is justified. On the facts discussed, the appellate authority found no such proved grounds, noted consistency with the valuation principles for second-hand machinery, and upheld acceptance of the declared value. The Revenue's challenge therefore failed, and valuation had to proceed on the transaction value basis. Case-Laws Customs Tue, 22 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374982