Valuation of Imported Machinery Overturned Due to Non-Compliance with Valuation Rules and Missing NIDB Data.

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....Valuation of imported goods - In case of new machinery, Rules require valuation to be done on the basis of contemporaneous imports (NIDB data). In absence of such data, authority is required to follow the Valuation Rules in seriatum, which has not been done - Revenue have not assigned any reasons for not adopting NIDB data. Admittedly, the appellant have declared a higher value of USD 5000 per machine. - Demand set aside - AT....