2003 (4) TMI 345 - AT - Customs

Summary

The appeal involved the valuation of second-hand machinery imported by the appellant. The Assistant Collector and Commissioner determined the value with 70% depreciation as per Circular 493/124/86-Cus.VI. The appellant argued that the circular's limit should not apply due to changes in import policies, but the tribunal dismissed this claim. The tribunal found no grounds for interference and dismissed the appeal.