https://www.taxtmi.com/caselaws?id=248218 The article notes that the extended period of limitation under the Customs Act could not be invoked where the notice was issued beyond the normal period and the record showed a bona fide belief supported by prior departmental approval, Customs assessment of bills of entry, a contemporaneous exemption claim, and an earlier decision in the assessee's own matter. On those facts, the ingredients of suppression and misdeclaration were not established. As a result, the demand for additional duty, interest, and penalties was held unsustainable and set aside. en-us Tue, 11 Sep 2012 00:00:00 +0530 Thu, 05 Jun 2014 13:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248218 The article notes that the extended period of limitation under the Customs Act could not be invoked where the notice was issued beyond the normal period and the record showed a bona fide belief supported by prior departmental approval, Customs assessment of bills of entry, a contemporaneous exemption claim, and an earlier decision in the assessee's own matter. On those facts, the ingredients of suppression and misdeclaration were not established. As a result, the demand for additional duty, interest, and penalties was held unsustainable and set aside. Case-Laws Customs Tue, 11 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248218