23 December 2010
One capital goods trading company imports a capital goods from germany for trading purpose in India.
Company regularily paying required cutoms duty at the time of imports. But, now AO demanding for another 1% along with regular duty. He was giving reason for additional 1% duty, that it was capital goods. But, the company intended to sell in India. It was not for its own use.
Whether demand of the AO valid? any case law. Please give me
CAclubindia
