https://www.taxtmi.com/caselaws?id=47128 Duty on a vessel under the exemption notification for ocean-going vessels and ship-breaking was held to remain leviable even though the vessel was damaged and later broken up, because the levy attached on import and entry into territorial waters, while chargeability arose on breaking up. The proviso was treated as referring to the vessel's status at entry, so later wrecking or salvage did not exclude duty. Valuation was required to be fixed by customs authorities on relevant statutory factors rather than the original sale price, with value assessed by reference to the time of entry into territorial waters and the duty rate linked to the date of filing the bill of entry. en-us Wed, 12 Feb 1992 00:00:00 +0530 Tue, 27 Jul 2010 11:34:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47128 Duty on a vessel under the exemption notification for ocean-going vessels and ship-breaking was held to remain leviable even though the vessel was damaged and later broken up, because the levy attached on import and entry into territorial waters, while chargeability arose on breaking up. The proviso was treated as referring to the vessel's status at entry, so later wrecking or salvage did not exclude duty. Valuation was required to be fixed by customs authorities on relevant statutory factors rather than the original sale price, with value assessed by reference to the time of entry into territorial waters and the duty rate linked to the date of filing the bill of entry. Case-Laws Customs Wed, 12 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47128