https://www.taxtmi.com/caselaws?id=52257 Declared transaction value for imported second-hand jute mill machinery could not be rejected under Rule 4 of the Customs Valuation Rules, 1988 in the absence of any recognised exception such as additional consideration or mutuality of interest, so assessment under Rule 8 was unwarranted. The foreign Chartered Engineer's certificates supported the year of manufacture and declared value, and the department could not accept the valuation certificate for one purpose while rejecting its age certification. Inspection reports showing that some motors, switch boards, control panels and similar accessories were old did not prove that the entire consignments were misdeclared or that all machinery was more than 10 years old. Confiscation of the whole machinery, together with redemption fine and penalty, was therefore not sustainable. en-us Tue, 10 Jun 2003 00:00:00 +0530 Mon, 04 Oct 2010 15:35:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52257 Declared transaction value for imported second-hand jute mill machinery could not be rejected under Rule 4 of the Customs Valuation Rules, 1988 in the absence of any recognised exception such as additional consideration or mutuality of interest, so assessment under Rule 8 was unwarranted. The foreign Chartered Engineer's certificates supported the year of manufacture and declared value, and the department could not accept the valuation certificate for one purpose while rejecting its age certification. Inspection reports showing that some motors, switch boards, control panels and similar accessories were old did not prove that the entire consignments were misdeclared or that all machinery was more than 10 years old. Confiscation of the whole machinery, together with redemption fine and penalty, was therefore not sustainable. Case-Laws Customs Tue, 10 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52257