TaxTMI 
TaxTMI 
2018 (7) TMI 278
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....ake up the appeal for final disposal, as the present appeal is an old one, pertaining to the year, 2010. 3. Briefly stated the facts of the case are that the respondent filed one Bill of Entry No.002/Importer/TTS/Cus/09 dated 27.07.09 in respect of one Motor Tug Boat with unit price of invoice value at US$ 36000. The Customs Authorities on not being satisfied with the declared value, asked the respondent to submit Valuation Certificate from the Government Valuer. The respondent-importer submitted a report of the Government Registered Valuer dated 17.08.2009 showing the value of Tug Boat at Rs. 17,00,000/-. The show-cause notice was issued under Rule 12 of the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007. The Adj....
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....mination of Value of Imported Goods) Rules, 2007 and may be undertaken by proper Customs Officer by proceeding sequentially through Rule 4 to 9 of Customs Valuation (Determination of Value of Imported Goods) Rules, 2007." 4. On appeal, the ld.Commissioner of Customs (Appeals) set aside the adjudication order and directed that the value of the goods is to be done on the basis of the value determined by the Government approved Chartered Engineer and Tug Boat shall be assessed to the Customs duty accordingly. Against the impugned order, the Revenue has preferred this appeal before the Tribunal for determination of the following points : (a) Whether the Commissioner of Customs (Appeals) was legally correct in setting aside the order of the l....
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....The details are as follows: S.No. Description of goods Country of Origin Unit Value in Rs. 1. "Old and used self propelled Tug" "Sea diamond X with Standard Equipment accessories & consumables on Board" DK 165316800 2. "Old and used self propelled Tug" "Sea diamond X with Standard Equipment accessories & consumables on Board" JP 216978300 3. Old and used self propelled Tug Crest Pearl IMP 9398864 GRT 486 with Singapore Registry consisting of the following: HULL, N CN 176165715 It is the case of the importer that the Data given by the Directorate of Valuation were in respect of past imports of old and used tug boat, which are imported more than two years back and those tug boat were very large and having far more amenities a....
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....n the year of manufacture and thereafter, after providing depreciation determines the valuation. There is no reason why the lower authority should not have accepted the valuation done by the Govt. approved chartered engineer. The year of making of the tug boats is 1984. The material cost of the year of manufacture has to be considered. On going through the valuation by the chartered engineer, I find that he has taken the building steel cost @ 120 per kg. and thereafter worked out the current price by giving @ 50% depreciation (normally 70% depreciation is given after 7 years). He based his decision on similar vessels currently being built in India. He has provided depreciation in respect of the vessel as it is 25 years old, which in fact is....