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Issues: Valuation of second-hand imported machinery based on expert opinion, comparison with contemporaneous imports, application of best judgment principle in valuation, failure to provide necessary documents for valuation, dissenting opinion on the validity of comparison in valuation.
In this case, the appellants imported a second-hand Tool Room Precision Coordinate Jig Boring Machine with accessories, which was undervalued according to a panel expert's assessment. The Customs House found discrepancies in the declared value and the actual value based on the expert's opinion. The Additional Collector accepted the expert's valuation and increased the assessable value of the machine. The appellants failed to provide necessary documents for valuation, such as the catalogue of imported machines and comparable goods. The Tribunal upheld the valuation based on the best judgment principle, citing precedents where exact comparisons for second-hand machinery were deemed impractical. The majority decision rejected the appeal due to the lack of evidence challenging the valuation. Regarding the dissenting opinion, it focused on the validity of comparison in valuation. The dissenting member disagreed with the majority's reliance on the Rakesh Press case, which allowed comparisons with machines of different features and capacities for valuation purposes. The dissenting member argued that since the importer claimed a larger machine with similar features, the comparison should have been accepted. Therefore, the dissenting member concluded that the appeal should be allowed, directing the Additional Collector to accept the value declared by the importer. Ultimately, despite the dissenting opinion, the majority decision to reject the appeal stood based on the application of the best judgment principle in valuation and the lack of evidence challenging the expert's assessment.
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