Supreme Court allows appeal on import duty exemption for horological machinery

The Supreme Court allowed the appeal of the assessee regarding the import of horological machinery for a watch making factory. The Court held that the assessee was entitled to a specific exemption notification for horological machines, despite clearing goods under a project import classification. The Tribunal's decision was found to be incorrect, and the Court ordered a refund to be issued in compliance with the law.

---

---

The Supreme Court allowed the appeal of an assessee who imported horological machinery for a watch making factory. The Court held that the assessee was entitled to the benefit of a specific exemption notification for horological machines, despite clearing goods under a project import classification. The Tribunal's decision was deemed erroneous. The Court ordered a refund to be made in accordance with the law.

---