2003 (4) TMI 345

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... [Order per : Gowri Shankar, Member (T)]. The question for consideration in this appeal is the valuation of the second hand machinery that the appellant imported. In determining the value, the Assistant Collector, whose order has been confirmed by the Commissioner (Appeals), provided for depreciation from the original price of the goods when they were manufactured up to 70%. He noted tha .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... for import of second hand machinery that it should not be more than seven years old. However, that does not mean that no machinery over seven years was permitted to be importer. Such machinery, if imported, was liable to action in contravention of the Import Trade Control Regulations and subject to that action would have been assessed to duty. The claim that the provisions of the circular should b .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X