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2017 (4) TMI 262 - AT - CustomsValuation - import of second hand machinery - assessment has been done after granting depreciation of 70% - no reason has been given to discard the declared invoice value in terms of Rule 4 of the Customs Valuation Rule - Held that: - None of the authorities advert to this Rule or say for what reasons as provided under Rule 4(2) the transaction value will have to be rejected - It is clear that in the absence of any ground for rejecting the invoice value it is not open to the Revenue to adopt any other value under any Rule subsequent to Rule 4 of the Customs Valuation Rules - appeal allowed - decided in favor of appellant.
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