https://www.taxtmi.com/caselaws?id=356502 Depreciation on capital goods had to be applied on a straight-line basis when computing duty liability under the export-oriented unit scheme, so the demand could not be raised on the gross value of assets used for many years. Recovery also had to be founded on the relevant exemption notifications governing import and domestic procurement; the Letter of Permission alone was not sufficient authority for duty recovery. On the facts, expiry of the Letter of Permission, lack of renewal, de-bonding circumstances, and the net foreign exchange positive position supported the view that no surviving duty liability was established. The duty demand and consequential penalties were therefore set aside. en-us Tue, 20 Feb 2018 00:00:00 +0530 Thu, 07 Mar 2019 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356502 Depreciation on capital goods had to be applied on a straight-line basis when computing duty liability under the export-oriented unit scheme, so the demand could not be raised on the gross value of assets used for many years. Recovery also had to be founded on the relevant exemption notifications governing import and domestic procurement; the Letter of Permission alone was not sufficient authority for duty recovery. On the facts, expiry of the Letter of Permission, lack of renewal, de-bonding circumstances, and the net foreign exchange positive position supported the view that no surviving duty liability was established. The duty demand and consequential penalties were therefore set aside. Case-Laws Customs Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356502