https://www.taxtmi.com/caselaws?id=438281 An EOU leasing arrangement for imported capital goods was examined for eligibility under Notification No. 52/2003-Cus, with the analysis accepting that joint filing and bond execution requirements could not defeat the exemption where their absence was explained by EDI constraints, consideration existed in law under the Contract Act, and the machines were received and used by the EOU. The discussion also records that the lease agreement and import documents had already been furnished to the department, so no suppression of facts was established and the extended limitation period for the show cause notice was not justified. On that basis, the exemption benefit and consequential relief were treated as sustainable, while demand and penalties were not. en-us Fri, 26 May 2023 00:00:00 +0530 Sat, 03 Feb 2024 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438281 An EOU leasing arrangement for imported capital goods was examined for eligibility under Notification No. 52/2003-Cus, with the analysis accepting that joint filing and bond execution requirements could not defeat the exemption where their absence was explained by EDI constraints, consideration existed in law under the Contract Act, and the machines were received and used by the EOU. The discussion also records that the lease agreement and import documents had already been furnished to the department, so no suppression of facts was established and the extended limitation period for the show cause notice was not justified. On that basis, the exemption benefit and consequential relief were treated as sustainable, while demand and penalties were not. Case-Laws Customs Fri, 26 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438281