Court Challenges Valuation of Vessel; Questions Application of Rule 12, Customs Valuation Rules 2007, Citing Lack of Evidence.

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....Valuation of goods - old and used self-propelled platform supply vessel Sagar Fortune - The justification offered for invoking rule 12 of Customs Valuation (Determination of Value of Imported Goods) Rules, 2007, i.e., alleged misdeclaration of tariff item in First Schedule to Customs Tariff Act, 1975, does not logically pan out without evidence that such technical distinction, even if uncontested, impacts value of the vessel. The impugned order has not allotted any space for such scrutiny. Recourse to sequential application of rule 4 to rule 9 of Customs Valuation (Determination of Value of Imported Goods) Rules, 2007 is, thus, without authority of law. - AT....