https://www.taxtmi.com/caselaws?id=54599 Depreciation had to be allowed when valuing used capital goods cleared by an EOU after cancellation of its Letter of Permission, so duty was sustainable only on the depreciated value and the excess demand failed. For goods cleared under bond for export, collateral evidence such as AR-4, RGI entry, bill of lading, shipping papers and banking correspondence was sufficient to establish export where original documents were unavailable, and the duty demand was not justified. The fine and penalty were reduced in view of the lower duty exposure and absence of clandestine diversion. No interest was payable on confiscated goods because liability arises only on redemption. en-us Fri, 16 Sep 2005 00:00:00 +0530 Fri, 19 Apr 2024 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54599 Depreciation had to be allowed when valuing used capital goods cleared by an EOU after cancellation of its Letter of Permission, so duty was sustainable only on the depreciated value and the excess demand failed. For goods cleared under bond for export, collateral evidence such as AR-4, RGI entry, bill of lading, shipping papers and banking correspondence was sufficient to establish export where original documents were unavailable, and the duty demand was not justified. The fine and penalty were reduced in view of the lower duty exposure and absence of clandestine diversion. No interest was payable on confiscated goods because liability arises only on redemption. Case-Laws Central Excise Fri, 16 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54599