https://www.taxtmi.com/caselaws?id=381659 Clearance of imported capital goods to the domestic tariff area was permissible because the Development Commissioner allowed sale after payment of applicable duties and compliance with customs procedures; absence or refusal of permission could not invalidate the clearance. Although duty was to be computed on the machinery's depreciated value, a subsequent differential-duty demand could not reopen an assessment made by the proper officer on declared transaction value without statutory review under the Customs Act. As no misdeclaration or suppression was attributable, extended limitation, confiscation, interest and penalties were unsustainable. The customs demand and associated penal consequences were set aside. en-us Wed, 12 Jun 2019 00:00:00 +0530 Fri, 13 Mar 2020 13:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381659 Clearance of imported capital goods to the domestic tariff area was permissible because the Development Commissioner allowed sale after payment of applicable duties and compliance with customs procedures; absence or refusal of permission could not invalidate the clearance. Although duty was to be computed on the machinery's depreciated value, a subsequent differential-duty demand could not reopen an assessment made by the proper officer on declared transaction value without statutory review under the Customs Act. As no misdeclaration or suppression was attributable, extended limitation, confiscation, interest and penalties were unsustainable. The customs demand and associated penal consequences were set aside. Case-Laws Customs Wed, 12 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381659