1999 (11) TMI 93

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.... used machines from West Germany for use in their dairy project under four Bills of Entry. The import documents included certificates of Chartered Engineers of West Germany. The Assistant Collector, however, determined the value of these machines by applying the depreciation method, relying upon Customs House practice and certain letters of the Ministry of Finance. His order was sustained by the C....

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....ence was to the difference between the invoice value and the value as determined by the depreciation method. 2. It would appear that the Tribunal lost sight of the fact that, in the first place, it had deplored the use of the depreciation method and, in the second place, that it had stated, quite rightly, that there had to be a finding that the invoice value was not the correct value. This, the....