https://www.taxtmi.com/caselaws?id=77785 Depreciation on EOU capital goods was held admissible for the relevant period, and assessable value had to be redetermined on that basis. The duty demand on raw materials could not be sustained because the department failed to establish that 40% of the inputs remained unutilised, and the entire quantity was accepted as consumed in exported goods. Confiscation of capital goods and raw materials, with redemption fine and penalty, was also set aside because the failure to meet export obligation was found to stem from business exigencies, not wilful default or mala fides. The matter on capital goods duty was remanded for fresh computation after depreciation. en-us Mon, 21 Dec 2009 00:00:00 +0530 Mon, 11 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77785 Depreciation on EOU capital goods was held admissible for the relevant period, and assessable value had to be redetermined on that basis. The duty demand on raw materials could not be sustained because the department failed to establish that 40% of the inputs remained unutilised, and the entire quantity was accepted as consumed in exported goods. Confiscation of capital goods and raw materials, with redemption fine and penalty, was also set aside because the failure to meet export obligation was found to stem from business exigencies, not wilful default or mala fides. The matter on capital goods duty was remanded for fresh computation after depreciation. Case-Laws Customs Mon, 21 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77785