https://www.taxtmi.com/caselaws?id=416392 The Tribunal ruled that payments for 'technical know-how' and 'technical assistance' should not be included in the assessable value of imported goods. The invocation of the extended period of limitation under section 28 of the Customs Act was deemed unjustified due to the lack of willful suppression of facts. The penalty under section 112 of the Customs Act was upheld, leading to the dismissal of the Revenue's appeal and the allowance of the assessee's appeal. en-us Wed, 22 Dec 2021 00:00:00 +0530 Tue, 28 Dec 2021 08:50:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416392 The Tribunal ruled that payments for 'technical know-how' and 'technical assistance' should not be included in the assessable value of imported goods. The invocation of the extended period of limitation under section 28 of the Customs Act was deemed unjustified due to the lack of willful suppression of facts. The penalty under section 112 of the Customs Act was upheld, leading to the dismissal of the Revenue's appeal and the allowance of the assessee's appeal. Case-Laws Customs Wed, 22 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416392