https://www.taxtmi.com/caselaws?id=73831 An additional import licence issued during AM 79 was treated as governed by the import policy and public notice in force when the licence was issued, so later canalisation under AM 80 and a subsequent public notice could not retrospectively withdraw rights already acquired. The majority held that the licence continued to authorise import of the goods despite shipment occurring after the later policy change and despite the importer not opening an irrevocable letter of credit before the later cut-off date. The open general licence shipment condition was rejected as overriding the licence. The confiscation and redemption fine were set aside; the dissent would have upheld rejection. en-us Wed, 29 Jul 1987 00:00:00 +0530 Fri, 03 Jun 2011 17:57:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=73831 An additional import licence issued during AM 79 was treated as governed by the import policy and public notice in force when the licence was issued, so later canalisation under AM 80 and a subsequent public notice could not retrospectively withdraw rights already acquired. The majority held that the licence continued to authorise import of the goods despite shipment occurring after the later policy change and despite the importer not opening an irrevocable letter of credit before the later cut-off date. The open general licence shipment condition was rejected as overriding the licence. The confiscation and redemption fine were set aside; the dissent would have upheld rejection. Case-Laws Customs Wed, 29 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=73831