https://www.taxtmi.com/highlights?id=97366 Valuation of mixed used/unused imported toolroom parts must follow the sequential methodology of the Customs Valuation Rules, resorting to the residual method only if Rules 3-8 cannot be applied; a Chartered Engineer certificate and unverified contemporaneous import data cannot alone justify rejection of the transaction value, and redetermination based solely on such a certificate is unlawful. Where the declared description matched the CE certificate and first check examination occurred, findings of intentional mis declaration were unsupported; consequential confiscation, redemption fine and penalty were set aside and reassessment was held unsustainable. en-us Tue, 03 Mar 2026 08:42:40 +0530 Tue, 03 Mar 2026 08:42:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97366 Valuation of mixed used/unused imported toolroom parts must follow the sequential methodology of the Customs Valuation Rules, resorting to the residual method only if Rules 3-8 cannot be applied; a Chartered Engineer certificate and unverified contemporaneous import data cannot alone justify rejection of the transaction value, and redetermination based solely on such a certificate is unlawful. Where the declared description matched the CE certificate and first check examination occurred, findings of intentional mis declaration were unsupported; consequential confiscation, redemption fine and penalty were set aside and reassessment was held unsustainable. Highlights Customs Tue, 03 Mar 2026 08:42:40 +0530 https://www.taxtmi.com/highlights?id=97366