Claiming Customs Exemption or Classification on Bill of Entry Not Mis-Declaration: CESTAT rules No...

The CESTAT has ruled that "claiming a customs exemption or classification on a bill of entry" is "not a mis-declaration," and that there is "no suppression when identical consignments were cleared earlier." This decision provides a crucial victory for the taxpayer, acknowledging that not all cash deposits during the demonetization period were from unexplained sources. The ruling, a significant victory for the company, reinforces the principle of legal certainty and predictability in tax matters. The court's decision is a crucial reminder to all that they must be diligent in their dealings.