https://www.taxtmi.com/caselaws?id=787358 Customs valuation of imported mixed used and unused tool room parts requires compliance with Section 14 of the Customs Act and the sequential methods under the Customs Valuation Rules, 2007. Transaction value cannot be rejected and reassessed solely on a Chartered Engineer's certificate without contemporaneous import data or adherence to the prescribed valuation process. Although valuation of second-hand goods may create practical difficulties under certain methods and may require residual valuation, procedural and substantive requirements remain mandatory. The reassessment, consequential demand, confiscation, redemption fine and penalty for alleged mis-declaration were therefore unsustainable, and the importer's appeal succeeded. en-us Fri, 27 Feb 2026 00:00:00 +0530 Mon, 02 Mar 2026 15:37:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787358 Customs valuation of imported mixed used and unused tool room parts requires compliance with Section 14 of the Customs Act and the sequential methods under the Customs Valuation Rules, 2007. Transaction value cannot be rejected and reassessed solely on a Chartered Engineer's certificate without contemporaneous import data or adherence to the prescribed valuation process. Although valuation of second-hand goods may create practical difficulties under certain methods and may require residual valuation, procedural and substantive requirements remain mandatory. The reassessment, consequential demand, confiscation, redemption fine and penalty for alleged mis-declaration were therefore unsustainable, and the importer's appeal succeeded. Case-Laws Customs Fri, 27 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787358