The Supreme Court on Monday dismissed an appeal filed by the Customs Department against Adani Power Maharashtra Ltd., Adani Power Rajasthan Ltd. and Maharashtra Eastern Grid Power Transmission Co. in a case involving alleged overvaluation of goods imported by the companies.
The apex court held that there was no need to interfere with the findings of the Customs Excise and Service Tax Appellate Tribunal and that the matter stood concluded in line with the findings of the tribunal.
The case reached the top court after the CESTAT had ruled in favour of the companies and found that the allegations of overvaluation had not been established.
The allegations which were levelled against the group of companies pertained to overvaluation of goods imported for setting up of power projects in the states of Maharashtra and Rajasthan. The department had alleged that the goods were routed through an intermediary entity for the purpose of raising invoices with inflated prices.
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