1999 (7) TMI 167

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....r : Gowri Shankar, Member (T)]. -  The question for consideration in this appeal is the valuation of the second-hand printing machine imported by the appellant. The department did not accept the value declared of Sterling GBP 13,000/- then equivalent to Rs. 2,06,000/- approximately, on the ground that the machine of the same make (year of manufacture 1975 and model Solna two colour offset Pr....

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....value of the machine. It has, however, indicated the value of the new machine of the same kind. We agree with the appellant that in the absence of anything to show that the machine imported by M/s. D.S. Sawant & Co. was comparable in terms of extent use and its condition at the time of importation; the price declared for that machine could not be made as a yardstick for valuing the present machine....

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....that the comparison made by the department is justifiable. Thus, even in the absence of a Chartered Engineer's certificate, the claim of the appellant, that it is up to the department to establish the correct value and that this has not been done, has to be accepted. The appellant's claim that by depreciating to 75%, maximum depreciation allowed under the Board's circular issued, available for sec....