2017 (4) TMI 262

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..... llant Z.F. Steering Gear (I) Ltd., imported certain second hand machinery and filed Bill of Entry bearing No.601201 dated 26th September 2005. The goods were cleared after giving 70% depreciation on the original invoice value disclosed in Chartered Engineer's Certificate. Aggrieved by the said assessment the appellant approached the Commissioner (Appeals) and sought assessment on declared invoice .....

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..... to introduction of Customs Valuation Rules, 1988 and therefore lost significance of the introduction of the said Rules. Learned C.A. also relied on the order No. No. 228/DC/SVB/BG/06-07 dated 23.06.2006 passed by the Dy. Commissioner of Customs, GATT Valuation Cell, Mumbai wherein it was held that even though the importer (M/s. ZF Steering Gear (I) Ltd. and supplier M/s Zahnradfabrik of Germany a .....

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..... has observed as follows:- "3. Learned counsel for the appellant brought to our notice a decision of this Court in Eicher Tractors Ltd. Haryana v. Commissioner of Customs, Mumbai - (2001) 1 SCC 315 in which it has been held that the mode of determination of the value of the goods in question in such matters as has been laid down in Rule 4(1), the transaction value will have to be determined and .....

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