https://www.taxtmi.com/caselaws?id=50626 Imported used construction machinery was assessed under standard customs depreciation norms because the residual value of used machinery cannot be determined with precision. The authorities applied the maximum depreciation permissible under the prescribed guidelines, and the valuation approach had already been accepted for similar imports. The Tribunal upheld this norm-based valuation, finding no basis to disturb the assessable value on the ground that the machinery had been used for different periods or should have attracted higher depreciation. en-us Fri, 17 Aug 2001 00:00:00 +0530 Mon, 23 Aug 2010 18:47:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50626 Imported used construction machinery was assessed under standard customs depreciation norms because the residual value of used machinery cannot be determined with precision. The authorities applied the maximum depreciation permissible under the prescribed guidelines, and the valuation approach had already been accepted for similar imports. The Tribunal upheld this norm-based valuation, finding no basis to disturb the assessable value on the ground that the machinery had been used for different periods or should have attracted higher depreciation. Case-Laws Customs Fri, 17 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50626