ORDER

1. The appellant before us imported certain machinery under bill of entry dated 22-1-1996. The assessing authority held that the machinery in question has been used since 1968 and as per the chartered engineer's certificate the machinery is found to have satisfactory useful residual life of at least 10 years and giving maximum depreciation of 70% held that certificate issued by the chartered engineer should be held to be correct and admissible, as the basis for the determination of value in terms of Section 14 of the Customs Act, 1962 read with the Customs Valuation Rules, 1988 and determined the assessable value of the goods in question at Rs 53,77,412 in terms of Rule 8 to the Customs Valuation Rules, 1988 issued under Section 14(1-A) of the Customs Act.

2. The matter was carried in appeal and, thereafter, in further appeal to the Tribunal unsuccessfully and hence this appeal before us.

3. Learned counsel for the appellant brought to our notice a decision of this Court in Eicher Tractors Ltd. v. Commr. of Customs 1 in which it has been held that the mode of determination of the value of the goods in question in such matters shall be as has been laid down in Rule 4(1). The tra