https://www.taxtmi.com/caselaws?id=72540 Concessional project-import treatment depends on truthful disclosure and compliance with the registration, licence, and end-use conditions. Where the importer stated that machinery was for expansion of its existing plant, although the transfer agreement had already been executed and the goods were not installed in its premises, the declaration was materially incorrect and reassessment on merits was justified. Breach of the licence condition against transfer or diversion attracted confiscation, and penalty could follow even if the goods were no longer physically available. Short levy caused by misstatement and non-disclosure could also be recovered under the extended limitation provision, as the customs authorities were entitled to examine whether the import conditions were fulfilled. en-us Tue, 29 Jul 1986 00:00:00 +0530 Fri, 20 May 2011 13:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=72540 Concessional project-import treatment depends on truthful disclosure and compliance with the registration, licence, and end-use conditions. Where the importer stated that machinery was for expansion of its existing plant, although the transfer agreement had already been executed and the goods were not installed in its premises, the declaration was materially incorrect and reassessment on merits was justified. Breach of the licence condition against transfer or diversion attracted confiscation, and penalty could follow even if the goods were no longer physically available. Short levy caused by misstatement and non-disclosure could also be recovered under the extended limitation provision, as the customs authorities were entitled to examine whether the import conditions were fulfilled. Case-Laws Customs Tue, 29 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=72540