HP India Approaches Customs Tribunal For Early Hearing



New Delhi: U.S.based computer maker Hewlett-Packard's India unit has approached the Customs Tribunal for an early hearing and extension of stay on case of an alleged $386-million duty evasion.

The case relates to an investigation by the Directorate of Revenue Intelligence, which charged that Hewlett-Packard India Sales Pvt Ltd (HPI), a subsidiary of HP, had underpaid customs duties while importing products and spare parts into India.

"In December 2013, HPI filed applications before Customs Tribunal seeking early hearing of appeals as well as extension of the stay already granted until final disposition of the appeals. These applications are currently pending before the Customs Tribunal," HP said in a filing with the US Securities and Exchange Commission (SEC).

In 2010, DRI issued show cause notices to HPI, 7 current HP employees and a former HP employee in the case.

DRI sought to recover about $370 million as well as penalties, added the filing submitted earlier this week.
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Source: PTI