Patent-settlement expenditure treated as commercially expedient revenue outlay, with foreign-law restrictions inapplicable before the prospective amen...
Import of hot rolled steel plates and steel sheets - Fixing of minimum import price - The petitioner argues that they applied for registration within the stipulated timeframe of 15 days, as required by paragraph 1.05(b) of the Foreign Trade Policy, despite a delay in actual registration. - Despite a delay in registration, the court finds that the petitioner acted in accordance with the Foreign Trade Policy by submitting the letter of credit within the required timeframe. The court emphasizes that the petitioner's compliance with the policy's spirit should be considered. - Matter restored back.
Import of hot rolled steel plates and steel sheets - Fixing of minimum import price - The petitioner argues that they applied for registration within the stipulated timeframe of 15 days, as required by paragraph 1.05(b) of the Foreign Trade Policy, despite a delay in actual registration. - Despite a delay in registration, the court finds that the petitioner acted in accordance with the Foreign Trade Policy by submitting the letter of credit within the required timeframe. The court emphasizes that the petitioner's compliance with the policy's spirit should be considered. - Matter restored back.
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