https://www.taxtmi.com/caselaws?id=308542 The Tribunal ruled in favor of the appellant in a case concerning the assessment of Customs Valuation Duty (CVD) on imported Set Top Boxes. The appellant successfully argued that ownership of the Set Top Boxes remained with them as per the subscription agreement, supported by the treatment of the boxes as capital assets in their financial statements. Citing precedent case law and a Board Circular, the Tribunal held that CVD cannot be levied when Set Top Boxes are not sold to subscribers. Consequently, the Tribunal set aside the re-assessment, allowing the appeal and granting relief to the appellant. en-us Mon, 28 Oct 2019 00:00:00 +0530 Mon, 03 Jul 2023 20:51:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308542 The Tribunal ruled in favor of the appellant in a case concerning the assessment of Customs Valuation Duty (CVD) on imported Set Top Boxes. The appellant successfully argued that ownership of the Set Top Boxes remained with them as per the subscription agreement, supported by the treatment of the boxes as capital assets in their financial statements. Citing precedent case law and a Board Circular, the Tribunal held that CVD cannot be levied when Set Top Boxes are not sold to subscribers. Consequently, the Tribunal set aside the re-assessment, allowing the appeal and granting relief to the appellant. Case-Laws Customs Mon, 28 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308542