https://www.taxtmi.com/caselaws?id=83436 Transferred REP licences could not invoke Exim Policy flexibility provisions for import of the disputed goods, because the policy expressly denied that benefit to transferred licences and the goods had been assessed as office machines without challenge to that classification. The objection to import was therefore sustained. On confiscation, however, the importer's belief that the goods were importable as non-OGL capital goods was treated as bona fide, making the personal penalty and the high redemption fine excessive. Confiscation remained in place, but the personal penalty was set aside and the redemption fine was reduced to Rs. 20,000. en-us Thu, 28 Jan 1993 00:00:00 +0530 Wed, 13 Jul 2011 15:20:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83436 Transferred REP licences could not invoke Exim Policy flexibility provisions for import of the disputed goods, because the policy expressly denied that benefit to transferred licences and the goods had been assessed as office machines without challenge to that classification. The objection to import was therefore sustained. On confiscation, however, the importer's belief that the goods were importable as non-OGL capital goods was treated as bona fide, making the personal penalty and the high redemption fine excessive. Confiscation remained in place, but the personal penalty was set aside and the redemption fine was reduced to Rs. 20,000. Case-Laws Customs Thu, 28 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83436