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2008 (10) TMI 192 - AT - CustomsValuation of Second Hand Machinery – The impugned goods are used colour monitors. They were restricted for import and were imported without requisite licence contravening the provisions of Section 111(d) of the Act. As regards the second-hand machinery, appraisal by chartered engineers empanelled for the purpose by the department is an established practice. - the original authority had assessed the value of the consignment at Rs. 8.85,828/- by depreciation method. The same was rejected by the Commissioner (A) as unsubstantiated and the value fixed at Rs. 4,03,402/- relying on the certificate of SGS. – value of second hand goods can not be equated with new goods – value adopted by commissioner (A) upheld - As the goods have been imported in contravention of prohibition, the same were confiscated under Section 111(d) of the act – confiscation and penalty upheld.
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