https://www.taxtmi.com/caselaws?id=54047 The appeal was filed against the Customs authorities' decision to reject the declared value of imported machines, enhancing it due to misdeclaration. The machines were confiscated with a fine and penalty imposed on the appellant. The appellant argued against the rejection of transaction value, citing the purchase from a different entity than mentioned. The Revenue authorities justified the rejection by comparing prices with new machines and applying depreciation method. However, the addition of 10% for reconditioning was deemed unjustified. The confiscation and penalty were set aside, aligning with the transaction value and appraisal report. en-us Fri, 01 Apr 2005 00:00:00 +0530 Sat, 16 Oct 2010 15:49:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54047 The appeal was filed against the Customs authorities' decision to reject the declared value of imported machines, enhancing it due to misdeclaration. The machines were confiscated with a fine and penalty imposed on the appellant. The appellant argued against the rejection of transaction value, citing the purchase from a different entity than mentioned. The Revenue authorities justified the rejection by comparing prices with new machines and applying depreciation method. However, the addition of 10% for reconditioning was deemed unjustified. The confiscation and penalty were set aside, aligning with the transaction value and appraisal report. Case-Laws Customs Fri, 01 Apr 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54047