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TMI Blog2003 (12) TMI 571X X X X Extracts X X X X X X X X Extracts X X X X ..... ent. [Order per : Moheb Ali M., Member (T)]. The stay application for waiver of pre-deposit of duty of Rs. 83,73,780/- and grant stay against its adjustment from the revenue deposit till the final disposal of the appeal, arose out of the order of the Commissioner (Appeals), who set aside the order of the lower authority and allowed the revenue appeal. 2. The applicant imported second h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of all second hand machinery for both bills of entry came to US$ 4,659,512.86. 3. The Assistant Commissioner accepted the declared value as there was only minor difference between the value certified by the chartered engineer in Indonesia and the one certified by SGS and finalised the bills of entry and the applicant paid the differential duty as assessed which came to Rs. 29,795/-. As per the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ide letter dated 4-1-1988. As per the chartered engineer s certificate, the original values of the goods under import as in the year of manufacture are not available, but the new values of the same are available. Since the original values are not available, as per the Board s instructions, the new values of machinery termed as Replacement/Reproduction Cost New should have been taken for determin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ption of the higher of the two values declared value and valued arrived at after depreciation for the purpose of assessment as it is against the provisions of Rule 8 (2) (ii) of the Customs Valuation Rules, 1985 which reads : 8(2). No value shall be determined under the provisions of this rule on the basis of - a system which provides for acceptance for Customs purposes of the highest of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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