https://www.taxtmi.com/caselaws?id=342705 The Tribunal ruled in favor of the appellant regarding the calculation of depreciation on capital goods, allowing for a higher depreciation rate of up to 90% based on Circular No.49/2000-Cus. The duty demand on plastic containers was upheld, amounting to 1,76,030, as the containers were not considered scrap with no value. However, the discrepancy in the quantity of finished products was deemed inadvertent and not an attempt to evade duty, leading to the setting aside of duty demands except for the plastic containers and imported Picanol looms. en-us Mon, 08 May 2017 00:00:00 +0530 Fri, 21 Jul 2017 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342705 The Tribunal ruled in favor of the appellant regarding the calculation of depreciation on capital goods, allowing for a higher depreciation rate of up to 90% based on Circular No.49/2000-Cus. The duty demand on plastic containers was upheld, amounting to 1,76,030, as the containers were not considered scrap with no value. However, the discrepancy in the quantity of finished products was deemed inadvertent and not an attempt to evade duty, leading to the setting aside of duty demands except for the plastic containers and imported Picanol looms. Case-Laws Customs Mon, 08 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342705