https://www.taxtmi.com/caselaws?id=83823 A beneficial import policy provision allowing delayed shipment under a firm contract was applied liberally where the letter of credit was opened within time, the contract was registered with the bank, and shipment delay resulted from circumstances beyond the importer's control. The contract was treated as a firm commitment for shipment within the policy period despite an inspection condition, and the supplier's inability to ship on time brought the case within the Open General Licence allowance for longer delivery periods. The import was therefore held covered by paragraph 7 of Appendix 10, and confiscation and redemption fine were set aside. en-us Mon, 12 Aug 1991 00:00:00 +0530 Mon, 18 Jul 2011 11:48:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=83823 A beneficial import policy provision allowing delayed shipment under a firm contract was applied liberally where the letter of credit was opened within time, the contract was registered with the bank, and shipment delay resulted from circumstances beyond the importer's control. The contract was treated as a firm commitment for shipment within the policy period despite an inspection condition, and the supplier's inability to ship on time brought the case within the Open General Licence allowance for longer delivery periods. The import was therefore held covered by paragraph 7 of Appendix 10, and confiscation and redemption fine were set aside. Case-Laws Customs Mon, 12 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=83823