https://www.taxtmi.com/caselaws?id=82435 Import policy on REP licences and clubbing of flexibility value was applied strictly, with clubbing appearing expressly provided only for non-OGL capital goods. The article notes that importers who had sought clarification, disclosed proposed ship-for-breaking imports, and obtained transfer-based licences without objection were later supported by a policy amendment and circulars recognising such imports through valid REP licences. The amendment was not treated as retrospective, but it informed adjudication within the same 1988-91 regime. On that basis, bona fide conduct and the later policy position were said to make heavy redemption fine and personal penalty unwarranted, although confiscability was not fully displaced. en-us Wed, 30 Oct 1991 00:00:00 +0530 Tue, 05 Jul 2011 11:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=82435 Import policy on REP licences and clubbing of flexibility value was applied strictly, with clubbing appearing expressly provided only for non-OGL capital goods. The article notes that importers who had sought clarification, disclosed proposed ship-for-breaking imports, and obtained transfer-based licences without objection were later supported by a policy amendment and circulars recognising such imports through valid REP licences. The amendment was not treated as retrospective, but it informed adjudication within the same 1988-91 regime. On that basis, bona fide conduct and the later policy position were said to make heavy redemption fine and personal penalty unwarranted, although confiscability was not fully displaced. Case-Laws Customs Wed, 30 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=82435