1993 (4) TMI 160 - AT - Income Tax

Summary

The Appellate Tribunal CEGAT, New Delhi ruled in favor of the respondents in a case involving the classification of imported valves under Tariff Heading 84.61(2) CTA, 1975. The lower appellate authority allowed the refund claim, stating that the valves only needed to have critical parts lined with corrosion-resistant material, not the entire valve. The tribunal agreed with this interpretation, rejecting the revenue's appeal.