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2010 (3) TMI 781 - HC - CustomsDemand - wrongful intention, connivance and mis-statement before the Director General of Foreign Trade (DGFT) - Notification No. 55/2003 - Penalty - invocation of extended period of limitation - Chartered Engineer had disclosed Furnace Oil as the product to be imported which was a consumable to be used in the captive power plant - it is apparent that the expression ‘importer’ would operate only in relation to the point at which the goods are imported and till the time they are cleared for home consumption - in connection with alleged suppression, wilful misstatement made at the stage of issuance of licences, prior to importing the goods, the proviso to sub-section (1) of Section 28 could not have been invoked - Decided in favour of the assessee
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