https://www.taxtmi.com/caselaws?id=53295 An import exemption under Notification No. 53/97-Cus. remained available where machinery, though not installed within one year, was installed within the permissible extended period of up to five years and extension had been sought. The delay was explained by the old condition of the machines and shortage of spares, and the Revenue did not dispute installation within the outer limit contemplated by the notification; the duty demand and confiscation were therefore set aside. On penalties, the delayed installation and ultimate use of the machinery justified moderation rather than complete relief, so the importer's penalty was reduced and the personal penalties on the Managing Director and Vice-President were set aside. en-us Fri, 08 Oct 2004 00:00:00 +0530 Tue, 12 Oct 2010 13:53:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53295 An import exemption under Notification No. 53/97-Cus. remained available where machinery, though not installed within one year, was installed within the permissible extended period of up to five years and extension had been sought. The delay was explained by the old condition of the machines and shortage of spares, and the Revenue did not dispute installation within the outer limit contemplated by the notification; the duty demand and confiscation were therefore set aside. On penalties, the delayed installation and ultimate use of the machinery justified moderation rather than complete relief, so the importer's penalty was reduced and the personal penalties on the Managing Director and Vice-President were set aside. Case-Laws Central Excise Fri, 08 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53295