https://www.taxtmi.com/caselaws?id=236593 The Tribunal held that the appellant is liable to pay duty on the imported capital goods deemed removed at the prevailing rate, along with interest. No duty is owed on raw materials used in export goods. Confiscation of capital goods was upheld, with the fine reduced to Rs. 1 crore. The appellant's penalty was reduced to Rs. 1 crore, and penalties on the Chairman and Managing Director were set aside. The case was remanded for demand re-computation. en-us Thu, 01 Mar 2012 00:00:00 +0530 Mon, 02 Sep 2013 12:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236593 The Tribunal held that the appellant is liable to pay duty on the imported capital goods deemed removed at the prevailing rate, along with interest. No duty is owed on raw materials used in export goods. Confiscation of capital goods was upheld, with the fine reduced to Rs. 1 crore. The appellant's penalty was reduced to Rs. 1 crore, and penalties on the Chairman and Managing Director were set aside. The case was remanded for demand re-computation. Case-Laws Customs Thu, 01 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236593