https://www.taxtmi.com/caselaws?id=98692 Customs exemption was denied because imported components were only assembled, tested and calibrated, with no evidence of real manufacture or emergence of a new and distinct commodity; negligible value addition and missing production records confirmed that the policy and notification required genuine manufacture. The demand was held within the extended limitation period because misstatement of local manufacture and indigenous content was made to the licensing authority and reflected in customs documents, supporting invocation of extended time under the Customs Act. Penalties were sustainable in principle, but the amounts were reduced in light of the surrounding circumstances. en-us Tue, 14 Mar 1995 00:00:00 +0530 Sat, 21 Jan 2012 16:35:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=98692 Customs exemption was denied because imported components were only assembled, tested and calibrated, with no evidence of real manufacture or emergence of a new and distinct commodity; negligible value addition and missing production records confirmed that the policy and notification required genuine manufacture. The demand was held within the extended limitation period because misstatement of local manufacture and indigenous content was made to the licensing authority and reflected in customs documents, supporting invocation of extended time under the Customs Act. Penalties were sustainable in principle, but the amounts were reduced in light of the surrounding circumstances. Case-Laws Customs Tue, 14 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=98692