https://www.taxtmi.com/caselaws?id=111903 Plastic water storage tanks were held to be classifiable by actual capacity, not by declared price or assumption, and physical verification together with the assessee's own test data showed capacity above 300 litres, taking the goods outside the exemption for smaller tanks. Deliberate misdeclaration supported the duty demand, required the sale price to be treated as cum-duty price for reassessment, and justified invocation of the extended limitation period. Penalty was sustained on the assessee-firm and the Director involved in the misdeclaration, but the Director's penalty was reduced and no penalty was sustained against the other Director. en-us Mon, 15 Mar 2004 00:00:00 +0530 Wed, 25 Apr 2012 17:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111903 Plastic water storage tanks were held to be classifiable by actual capacity, not by declared price or assumption, and physical verification together with the assessee's own test data showed capacity above 300 litres, taking the goods outside the exemption for smaller tanks. Deliberate misdeclaration supported the duty demand, required the sale price to be treated as cum-duty price for reassessment, and justified invocation of the extended limitation period. Penalty was sustained on the assessee-firm and the Director involved in the misdeclaration, but the Director's penalty was reduced and no penalty was sustained against the other Director. Case-Laws Central Excise Mon, 15 Mar 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111903