https://www.taxtmi.com/caselaws?id=358673 The Appellate Tribunal CESTAT New Delhi ruled in favor of the appellant, a government-owned bank, in a case involving duty-free import of gold bars for jewelry manufacturing. The appellant was absolved of duty liability as the gold was used for its intended purpose, cleared to the Domestic Tariff Area (DTA) against foreign exchange remittance by the 100% Export Oriented Unit (EOU) jewelry maker, and approved by the Development Commissioner as deemed export. The Tribunal held that the appellant fulfilled import conditions and disposed of the gold with proper authorization, thus overturning the Customs duty demand and penalties imposed. The appeal was allowed, and the appellant was not held liable for duty foregone. en-us Wed, 28 Feb 2018 00:00:00 +0530 Mon, 18 Mar 2019 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358673 The Appellate Tribunal CESTAT New Delhi ruled in favor of the appellant, a government-owned bank, in a case involving duty-free import of gold bars for jewelry manufacturing. The appellant was absolved of duty liability as the gold was used for its intended purpose, cleared to the Domestic Tariff Area (DTA) against foreign exchange remittance by the 100% Export Oriented Unit (EOU) jewelry maker, and approved by the Development Commissioner as deemed export. The Tribunal held that the appellant fulfilled import conditions and disposed of the gold with proper authorization, thus overturning the Customs duty demand and penalties imposed. The appeal was allowed, and the appellant was not held liable for duty foregone. Case-Laws Customs Wed, 28 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358673