https://www.taxtmi.com/caselaws?id=775722 The SC held that oil in the bunker tanks of vessels sent for breaking up must be valued as part of the ship itself, not separately. The appeal was disposed of following the precedent set in M/S Mahalaxmi Ship Breaking Corp. v. Commissioner of Customs Bhavnagar, confirming that such oil is included in the vessel's overall assessment for customs purposes. en-us Wed, 02 Jul 2025 00:00:00 +0530 Wed, 30 Jul 2025 08:21:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775722 The SC held that oil in the bunker tanks of vessels sent for breaking up must be valued as part of the ship itself, not separately. The appeal was disposed of following the precedent set in M/S Mahalaxmi Ship Breaking Corp. v. Commissioner of Customs Bhavnagar, confirming that such oil is included in the vessel's overall assessment for customs purposes. Case-Laws Customs Wed, 02 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775722