https://www.taxtmi.com/caselaws?id=247786 The judgment concluded that royalties and license fees paid for the import of tapes were includable in the assessable value of imported goods. The extended period of limitation for demanding customs duty was invoked due to the appellant's suppression of the goods' value. Penalties under section 114A were upheld, but the penalty on the Managing Director was set aside. The digibeta tape was confiscated with an option for redemption on payment of a fine. Despite a dissenting opinion, the demand for customs duty, interest, and penalties was set aside as time-barred. en-us Wed, 22 Jan 2014 00:00:00 +0530 Mon, 08 Feb 2016 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247786 The judgment concluded that royalties and license fees paid for the import of tapes were includable in the assessable value of imported goods. The extended period of limitation for demanding customs duty was invoked due to the appellant's suppression of the goods' value. Penalties under section 114A were upheld, but the penalty on the Managing Director was set aside. The digibeta tape was confiscated with an option for redemption on payment of a fine. Despite a dissenting opinion, the demand for customs duty, interest, and penalties was set aside as time-barred. Case-Laws Customs Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247786