Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
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CESTAT held that the imported animal feed supplement (Nutracor 88) was correctly classified under CTH 23099090, invalidating the appellant's original classification. The tribunal rejected the revenue's attempt to invoke extended limitation period, finding no suppression of facts or intentional mis-declaration. The court set aside the demands raised under extended limitation, redemption fine, and penalty under Section 114A of the Customs Act. The appellant was required to pay differential duty for the normal limitation period without additional penalties, effectively partially allowing the appeal while maintaining the revised tariff classification.
CESTAT held that the imported animal feed supplement (Nutracor 88) was correctly classified under CTH 23099090, invalidating the appellant's original classification. The tribunal rejected the revenue's attempt to invoke extended limitation period, finding no suppression of facts or intentional mis-declaration. The court set aside the demands raised under extended limitation, redemption fine, and penalty under Section 114A of the Customs Act. The appellant was required to pay differential duty for the normal limitation period without additional penalties, effectively partially allowing the appeal while maintaining the revised tariff classification.
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