Customs valuation of second-hand machinery must follow statutory rules; unsupported redetermination, confiscation and penalties were set aside.

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....For second-hand machinery, customs valuation must follow the statutory sequence under the Valuation Rules and cannot rest on internet offers, broad market estimates, or unsupported tonnage methods. Where imported cranes were examined, assessed on chartered engineer certification, and no reliable evidence of a higher transaction value or legally admissible corroboration existed, the later redetermination of assessable value and differential duty failed. A time-bar also applied to consignments beyond five years under Section 28, so duty could not survive on those imports. Mere mismatch between declared invoice value and later revalued figures did not prove misdeclaration for confiscation or penalty under Section 111(m); redemption fine and penalties were set aside. The same unsustainable valuation basis could not support finalisation of provisional assessment under Section 18.....