https://www.taxtmi.com/caselaws?id=201506 Insulating varnishes were held classifiable under Heading 3208.40 rather than as alkyd resins under Heading 3907.50 because the goods were composite products marketed and used as insulating varnishes, and the specific tariff entry prevailed over the broader resin description. The classification did not turn on essential character, and Note 3 to Chapter 32 did not exclude the goods merely because solvent content was below 50%. Misdeclaration of the product as alkyd resin justified invocation of the extended limitation period and sustained the duty demand. Penalty, however, was set aside in view of the retrospective validating provision under Section 110 of the Finance Act, 2000. en-us Mon, 15 Feb 2010 00:00:00 +0530 Wed, 12 Jan 2011 16:43:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201506 Insulating varnishes were held classifiable under Heading 3208.40 rather than as alkyd resins under Heading 3907.50 because the goods were composite products marketed and used as insulating varnishes, and the specific tariff entry prevailed over the broader resin description. The classification did not turn on essential character, and Note 3 to Chapter 32 did not exclude the goods merely because solvent content was below 50%. Misdeclaration of the product as alkyd resin justified invocation of the extended limitation period and sustained the duty demand. Penalty, however, was set aside in view of the retrospective validating provision under Section 110 of the Finance Act, 2000. Case-Laws Central Excise Mon, 15 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201506