https://www.taxtmi.com/caselaws?id=440743 Misdeclaration of prime quality goods as rejects to obtain concessional duty justified invocation of the extended limitation period because the benefit was secured by fraudulent suppression and incorrect declaration. Clearance permission obtained on that false basis could not be used to avoid duty under the proviso to Section 3(1) of the Central Excise Act, since approval for clearance had already been procured by misdeclaration. Rejection of the declared value and redetermination under Rule 7 of the Customs Valuation Rules was upheld where the goods were cleared to a related company and subsequently sold at a higher rate, showing cogent grounds for reassessment. en-us Wed, 19 Apr 2023 00:00:00 +0530 Mon, 30 Oct 2023 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440743 Misdeclaration of prime quality goods as rejects to obtain concessional duty justified invocation of the extended limitation period because the benefit was secured by fraudulent suppression and incorrect declaration. Clearance permission obtained on that false basis could not be used to avoid duty under the proviso to Section 3(1) of the Central Excise Act, since approval for clearance had already been procured by misdeclaration. Rejection of the declared value and redetermination under Rule 7 of the Customs Valuation Rules was upheld where the goods were cleared to a related company and subsequently sold at a higher rate, showing cogent grounds for reassessment. Case-Laws Central Excise Wed, 19 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440743