https://www.taxtmi.com/caselaws?id=309837 Valuation addressed whether bunker oil in engine room or external bunker tanks of vessels sent for breaking up should be assessed separately or as part of the ship. The tribunal treated the oil as part of the ship for valuation purposes, applying the principle that components integral or accessory to the principal goods form a single unit of assessment; accordingly, separate assessment of the bunker oil was rejected and the oils value is included in the vessels scrap valuation, resulting in dismissal of the revenue appeals. en-us Wed, 05 Apr 2023 00:00:00 +0530 Tue, 20 Jan 2026 14:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309837 Valuation addressed whether bunker oil in engine room or external bunker tanks of vessels sent for breaking up should be assessed separately or as part of the ship. The tribunal treated the oil as part of the ship for valuation purposes, applying the principle that components integral or accessory to the principal goods form a single unit of assessment; accordingly, separate assessment of the bunker oil was rejected and the oils value is included in the vessels scrap valuation, resulting in dismissal of the revenue appeals. Case-Laws Customs Wed, 05 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309837