https://www.taxtmi.com/caselaws?id=84941 Under the relevant import policy, a returnee NRI could import a vehicle bought from overseas earnings if the importer owned it at the time of import and until clearance. An arrangement to resell later was treated as an agreement to sell, not a completed sale, so no unlawful transfer of the import facility was established where the documents and payment supported genuine ownership. By contrast, where the named importer had no proof of payment, signed blank papers, and merely lent his name while the appellant controlled the import, the NRI facility was misused and the import was unlawful. The penalty in that instance was found excessive and reduced. en-us Wed, 07 Feb 1996 00:00:00 +0530 Mon, 01 Aug 2011 16:43:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=84941 Under the relevant import policy, a returnee NRI could import a vehicle bought from overseas earnings if the importer owned it at the time of import and until clearance. An arrangement to resell later was treated as an agreement to sell, not a completed sale, so no unlawful transfer of the import facility was established where the documents and payment supported genuine ownership. By contrast, where the named importer had no proof of payment, signed blank papers, and merely lent his name while the appellant controlled the import, the NRI facility was misused and the import was unlawful. The penalty in that instance was found excessive and reduced. Case-Laws Customs Wed, 07 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=84941