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2010 (10) TMI 319 - CESTAT, MUMBAIClassification - Valuation - Rule 12 of the Customs Valuation Rules, 2007 - Confiscation - Notification 21/2002-Cus. [Sr. No. 344 (2)] - It is submitted that the vehicle was not in actual use in the UK after its registration and therefore, it should be deemed to be a new vehicle in terms of the above Import Licensing Note - It was certified that the total cost of the vehicle was US $ 69,545 inclusive of cost of conversion amounting to US $ 31,000 as per the relevant invoice - By all standards, therefore, the car imported by the appellant was a second-hand/used vehicle which was imported from the United States after its modifications there - Decided against the assessee Regarding confiscation - It is nobody’s case that such a vehicle could be imported without specific licence - Therefore, the licensing requirement was violated in respect of the subject import and consequently, as rightly held by the Commissioner, the vehicle was liable to confiscation under Section 111(d) of the Customs Act Regarding valuation - It is settled law that valuation of second-hand goods cannot be made on a comparison with other second-hand goods - The conversion cost in respect of the vehicles imported by the appellant was US $ 31,000 whereas that incurred in the case of the vehicle covered by contemporaneous Bill of Entry was US $ 50,200 - the transaction value would reflect the basis of the assessable value of the goods under Section 14 of the Customs Act, in the absence of evidence against acceptability of that value Regarding concessional rate - Commissioner’s decision on the applicability of Notification No. 21/2002-Cus. would not get altered in the context of de novo consideration of the classification issue - The appeal is disposed of in
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