https://www.taxtmi.com/caselaws?id=74044 Goods bought, processed if necessary, and sold in the market as nuts were classified by their commercial identity as fasteners under Tariff Item 52, because their asserted function did not give them a separate technical character. Misdescription of the goods as end fittings, despite their true commercial description, amounted to suppression of material facts and justified invocation of the extended limitation period. For Notification No. 89/79, the value of goods actually exported had to be excluded from the exemption computation, since exported goods are not cleared for home consumption. The penalty was sustained, but reduced in quantum because the circumstances warranted moderation. en-us Mon, 31 Oct 1988 00:00:00 +0530 Mon, 06 Jun 2011 12:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=74044 Goods bought, processed if necessary, and sold in the market as nuts were classified by their commercial identity as fasteners under Tariff Item 52, because their asserted function did not give them a separate technical character. Misdescription of the goods as end fittings, despite their true commercial description, amounted to suppression of material facts and justified invocation of the extended limitation period. For Notification No. 89/79, the value of goods actually exported had to be excluded from the exemption computation, since exported goods are not cleared for home consumption. The penalty was sustained, but reduced in quantum because the circumstances warranted moderation. Case-Laws Central Excise Mon, 31 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=74044