https://www.taxtmi.com/caselaws?id=52214 Declared transaction value of imported second-hand autoconers could not be rejected merely because the manufacturer's invoices were not produced. The valuation rules required acceptance of transaction value unless its genuineness was shown to be doubtful, and a bare remark that the price appeared low was insufficient without expert examination or other supporting evidence. Although the invoice could be called for under the valuation rules, its absence in the case of second-hand machinery did not by itself make the declared value inadmissible. The transaction value therefore had to be accepted, and depreciation-based valuation could not be sustained. en-us Tue, 08 Apr 2003 00:00:00 +0530 Mon, 04 Oct 2010 12:14:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52214 Declared transaction value of imported second-hand autoconers could not be rejected merely because the manufacturer's invoices were not produced. The valuation rules required acceptance of transaction value unless its genuineness was shown to be doubtful, and a bare remark that the price appeared low was insufficient without expert examination or other supporting evidence. Although the invoice could be called for under the valuation rules, its absence in the case of second-hand machinery did not by itself make the declared value inadmissible. The transaction value therefore had to be accepted, and depreciation-based valuation could not be sustained. Case-Laws Customs Tue, 08 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52214