https://www.taxtmi.com/caselaws?id=121665 Under the EPCG scheme, domestically procured capital goods could be counted towards the minimum import value condition in Notification No. 29/97-Cus. even after invalidation of the licence for such domestic procurement, because the policy and notification had to be read harmoniously. The domestic supplier was entitled to deemed export benefits, and the value of imported and locally procured goods together satisfied the prescribed threshold. On that construction, the basis for duty demand, confiscation, interest and penalty failed, and the resulting demand and penalties were unsustainable. en-us Mon, 02 Apr 2007 00:00:00 +0530 Wed, 01 Aug 2012 14:04:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121665 Under the EPCG scheme, domestically procured capital goods could be counted towards the minimum import value condition in Notification No. 29/97-Cus. even after invalidation of the licence for such domestic procurement, because the policy and notification had to be read harmoniously. The domestic supplier was entitled to deemed export benefits, and the value of imported and locally procured goods together satisfied the prescribed threshold. On that construction, the basis for duty demand, confiscation, interest and penalty failed, and the resulting demand and penalties were unsustainable. Case-Laws Customs Mon, 02 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121665