https://www.taxtmi.com/caselaws?id=82287 Import of tantalum sheets was treated as requiring a valid licence where the goods were shifted out of the Open General Licence category before arrival and the letter of credit was opened only after the policy change. On that basis, clearance could not proceed under Open General Licence and confiscability was upheld for absence of a valid import licence. However, the importer's bona fide conduct, actual-user status, and prior steps toward import justified a lenient view on penalty, so the redemption fine was reduced. en-us Fri, 11 Dec 1992 00:00:00 +0530 Mon, 04 Jul 2011 11:25:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82287 Import of tantalum sheets was treated as requiring a valid licence where the goods were shifted out of the Open General Licence category before arrival and the letter of credit was opened only after the policy change. On that basis, clearance could not proceed under Open General Licence and confiscability was upheld for absence of a valid import licence. However, the importer's bona fide conduct, actual-user status, and prior steps toward import justified a lenient view on penalty, so the redemption fine was reduced. Case-Laws Customs Fri, 11 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82287