The appellant also challenged the rejection of the first Chartered Engineer’s valuation and reliance on a second Chartered Engineer appointed by customs. The Tribunal examined the valuation framework under Section 14 and the Customs Valuation Rules, 2007. Penalties under section 112 of Customs Act, 1962 was imposed on the importer and other appellants herein in addition to penalties under section 114AA of Customs Act, 1962. No Custom House shall require any importer to have an inspection/appraisement report of second hand machineryfrom a particular Chartered Engineer…’as reflecting legislative intent of section 14 of Customs Act, 1962. Ltd. in terms of the provisions of Section 28(4) of the Customs Act.