2001 (8) TMI 149

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....der per : C.N.B. Nair, Member (T)]. - Both these appeals relate to Customs valuation of imported (used) construction machinery. 2. The appellant is a construction company. They had purchased construction machinery abroad for use in projects at Iraq and Libya. At the end of the project, the used machinery were imported into India. The Customs authorities determined the assessable value of the us....

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....t according to valuation norms. This is so under various fiscal laws, Company law, etc. He submits that Government had issued instructions in 1993 (Vadodara Collectorate VIII/1/Cus/93) on the subject and those norms ensure uniformity of practice. He pointed out that the maximum depreciation, according to the guidelines of the Board had been allowed by the assessing authorities in this case. He als....