https://www.taxtmi.com/caselaws?id=53192 Enhanced customs valuation of imported second-hand monitors was upheld because the department's depreciation-based assessment, linked to the year of manufacture, was found rational and non-arbitrary. Import of restricted second-hand goods without a specific licence was treated as a breach of the foreign trade restrictions, so confiscation and penalty were sustained. The monetary consequences were moderated on the facts, with the redemption fine and penalty reduced in view of the valuation disparity between the declared value and the higher assessed value. en-us Wed, 14 Jan 2004 00:00:00 +0530 Mon, 11 Oct 2010 14:28:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53192 Enhanced customs valuation of imported second-hand monitors was upheld because the department's depreciation-based assessment, linked to the year of manufacture, was found rational and non-arbitrary. Import of restricted second-hand goods without a specific licence was treated as a breach of the foreign trade restrictions, so confiscation and penalty were sustained. The monetary consequences were moderated on the facts, with the redemption fine and penalty reduced in view of the valuation disparity between the declared value and the higher assessed value. Case-Laws Customs Wed, 14 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53192