9911796707
TMI Blog2015 (11) TMI 1457X X X X Extracts X X X X X X X X Extracts X X X X ..... of the value as ascertained by the chartered engineer, should have been given. Adjudicating authority has summararily discarded this plea of the appellant's that they are eligible for the benefit of depreciation as per as per board’s circular recording that it is simple procedure which has been intimated by the board. We do not agree with the findings of the adjudicating authority. In our view, board’s circular of 1987 regarding the depreciation is to be followed by the adjudicating authority. We find strong force in the contention of the learner Counsel that entire issue needs reconsideration by the adjudicating authority on various other submissions made by the appellants before him as also the benefit of depreciation as per board’s c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 639/07.12.09 Used 550 tons Crawler Crane Dmag CC 2600 Year of manuf. 1994 SGD 20,00,000 Eqv. To ₹ 6,78,00,000/ SGD 27,00,000 Eqv. To ₹ 9,15,30,000/- SGD 21,60,000 Eqv to ₹ 7,32,24,000/- 923640/07.12.09 Used 1000 tons Crawler Crane Dmag CC 6400 Year of manuf. 1994 SGD 40,00,000 Eqv. To ₹ 13,56,00,000/- SGD 52,00,000 Eqv. To ₹ 17,62,80,000/- SGD 37,50,000 Eqv to ₹ 12,71,25,000/- Customs authorities not satisfied with the valuation as declared by the appellant undertook an investigation and appointed local chartered engineer to as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... declared value of the cranes in the bills of entry is incorrect and appointed local chartered engineer for ascertaining the correct value of the goods imported. In our considered view, there is no serious challenge from the main appellant as to the ascertainment of the value by the chartered engineer appointed by the Customs Department it is a case of the appellant that the ascertained value of the cranes by the chartered engineer, appointed by the Department as to the value of the cranes in the year of manufacture even if taken, depreciation at the rate of 70% of the value as ascertained by the chartered engineer, should have been given. It is a case of the learned Counsel that they would like to go back before the adjudicating authority ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
