https://www.taxtmi.com/caselaws?id=83526 Special import permission for Export Processing Zone units did not override the policy condition governing second-hand machinery. The policy had to be read harmoniously so that the age and residual-life declaration retained legal effect; machinery exceeding seven years of age was therefore not permissible for import. However, the factual circumstances that the machinery was supplied free of cost, intended only for export production, stored in a bonded warehouse, and had a residual life of more than five years justified leniency on penalty, leading to reduction of the redemption fine. en-us Mon, 18 Jul 1994 00:00:00 +0530 Thu, 14 Jul 2011 10:35:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83526 Special import permission for Export Processing Zone units did not override the policy condition governing second-hand machinery. The policy had to be read harmoniously so that the age and residual-life declaration retained legal effect; machinery exceeding seven years of age was therefore not permissible for import. However, the factual circumstances that the machinery was supplied free of cost, intended only for export production, stored in a bonded warehouse, and had a residual life of more than five years justified leniency on penalty, leading to reduction of the redemption fine. Case-Laws Customs Mon, 18 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83526