https://www.taxtmi.com/caselaws?id=310656 The Tribunal allowed the appeals, setting aside the duty demand and penalties imposed by the Commissioner. It held that the cost of transportation for customs valuation should only include expenses directly related to the carriage of goods, not the total payments for hiring vessels on a time charter basis. The Tribunal found no mis-declaration or suppression of facts by EGL, rendering the extended period of limitation inapplicable. Consequently, penalties under Section 112 were also set aside. en-us Thu, 27 Mar 2003 00:00:00 +0530 Sat, 04 Nov 2023 10:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310656 The Tribunal allowed the appeals, setting aside the duty demand and penalties imposed by the Commissioner. It held that the cost of transportation for customs valuation should only include expenses directly related to the carriage of goods, not the total payments for hiring vessels on a time charter basis. The Tribunal found no mis-declaration or suppression of facts by EGL, rendering the extended period of limitation inapplicable. Consequently, penalties under Section 112 were also set aside. Case-Laws Customs Thu, 27 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310656