https://www.taxtmi.com/caselaws?id=50520 Capital goods imported under a valid EPCG licence and covered by the exemption notification could not be revalued by loading payments made under separate operation, engineering and service contracts. The customs authorities were required to verify only whether the imported goods matched the licence and notification conditions; they were not entitled to invoke Section 14 of the Customs Act, 1962 to add unrelated contractual consideration to the assessable value of the imported goods. On that basis, the duty demand, confiscation and penalties were unsustainable, and the impugned order was set aside with consequential relief. en-us Fri, 11 May 2001 00:00:00 +0530 Mon, 23 Aug 2010 11:55:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50520 Capital goods imported under a valid EPCG licence and covered by the exemption notification could not be revalued by loading payments made under separate operation, engineering and service contracts. The customs authorities were required to verify only whether the imported goods matched the licence and notification conditions; they were not entitled to invoke Section 14 of the Customs Act, 1962 to add unrelated contractual consideration to the assessable value of the imported goods. On that basis, the duty demand, confiscation and penalties were unsustainable, and the impugned order was set aside with consequential relief. Case-Laws Customs Fri, 11 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50520