https://www.taxtmi.com/caselaws?id=52997 Declared transaction value and year of manufacture for second-hand imported machinery were accepted where the importer supported them with a bona fide foreign supplier's Chartered Engineer's certificate. The Tribunal held that such evidence could not be rejected merely because a later domestic expert opinion differed, particularly when the certificate was not shown to be false, fraudulent, or irrelevant and the goods were sourced from a dealer rather than a manufacturer. The department's market enquiry did not provide sufficient independent reason to displace the declared value. On that basis, assessment was to proceed on the declared value and manufacture year, and confiscation and penalty were unsustainable for want of misdeclaration. en-us Mon, 17 May 2004 00:00:00 +0530 Tue, 09 Jul 2024 14:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52997 Declared transaction value and year of manufacture for second-hand imported machinery were accepted where the importer supported them with a bona fide foreign supplier's Chartered Engineer's certificate. The Tribunal held that such evidence could not be rejected merely because a later domestic expert opinion differed, particularly when the certificate was not shown to be false, fraudulent, or irrelevant and the goods were sourced from a dealer rather than a manufacturer. The department's market enquiry did not provide sufficient independent reason to displace the declared value. On that basis, assessment was to proceed on the declared value and manufacture year, and confiscation and penalty were unsustainable for want of misdeclaration. Case-Laws Customs Mon, 17 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52997