https://www.taxtmi.com/caselaws?id=31625 Declared transaction value for old and used imported machinery may be rejected where it is found unreliable, but enhancement to a contemporaneous import value cannot be applied mechanically. A comparison with allegedly identical goods must account for differences in year of manufacture, age, usage and technological features, and the valuation must be supported by reasoned evidence. The chartered engineer's certificate and depreciation guidance for old machinery were accepted as relevant, leading to a depreciated assessable value above the declared value but below the enhanced figure adopted below. Differential duty remained recoverable on the reassessed value. en-us Tue, 29 Apr 2008 00:00:00 +0530 Fri, 28 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31625 Declared transaction value for old and used imported machinery may be rejected where it is found unreliable, but enhancement to a contemporaneous import value cannot be applied mechanically. A comparison with allegedly identical goods must account for differences in year of manufacture, age, usage and technological features, and the valuation must be supported by reasoned evidence. The chartered engineer's certificate and depreciation guidance for old machinery were accepted as relevant, leading to a depreciated assessable value above the declared value but below the enhanced figure adopted below. Differential duty remained recoverable on the reassessed value. Case-Laws Customs Tue, 29 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31625