https://www.taxtmi.com/caselaws?id=52748 The court upheld the valuation of second-hand machinery based on the manufacturer's price for new machines using the depreciation method rather than the invoice price claimed by the appellants. The decision relied on precedents such as Gajra Beval Gears Ltd. v. CC, Bombay and CC, Chennai v. Motor Industries, supporting the method of valuing second-hand machinery through depreciation of new goods. The court found the valuation method to be valid and non-arbitrary, affirming the lower authorities' orders and dismissing the appeal. en-us Fri, 02 Jan 2004 00:00:00 +0530 Thu, 07 Oct 2010 15:34:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52748 The court upheld the valuation of second-hand machinery based on the manufacturer's price for new machines using the depreciation method rather than the invoice price claimed by the appellants. The decision relied on precedents such as Gajra Beval Gears Ltd. v. CC, Bombay and CC, Chennai v. Motor Industries, supporting the method of valuing second-hand machinery through depreciation of new goods. The court found the valuation method to be valid and non-arbitrary, affirming the lower authorities' orders and dismissing the appeal. Case-Laws Customs Fri, 02 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52748