https://www.taxtmi.com/caselaws?id=847 The Appellate Tribunal ruled that demurrage charges should not be included in the assessable value of imported goods, contrary to the Customs authorities' contention. Referring to Circulars by the Central Board of Excise and Customs, including the 1991 Circular, the Tribunal emphasized adherence to existing Circulars. Penalties imposed under Section 114A based on demurrage charges were deemed unsustainable, following the principles set in the Indian Oil Corporation case. The Tribunal set aside the penalties, stressing the binding nature of Circulars in duty calculations and penalty impositions. en-us Fri, 08 Sep 2006 00:00:00 +0530 Sat, 03 May 2014 16:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=847 The Appellate Tribunal ruled that demurrage charges should not be included in the assessable value of imported goods, contrary to the Customs authorities' contention. Referring to Circulars by the Central Board of Excise and Customs, including the 1991 Circular, the Tribunal emphasized adherence to existing Circulars. Penalties imposed under Section 114A based on demurrage charges were deemed unsustainable, following the principles set in the Indian Oil Corporation case. The Tribunal set aside the penalties, stressing the binding nature of Circulars in duty calculations and penalty impositions. Case-Laws Central Excise Fri, 08 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=847