https://www.taxtmi.com/caselaws?id=85435 Imported used lubricating oil described in the import documents as waste oil was treated as hazardous waste under the EXIM Policy and the Hazardous Wastes (Management and Handling) Rules, 1989, because the record showed no reliable basis to distinguish used oil from waste oil for policy purposes. The transitory protection under Para 5 of the EXIM Policy, 1992-97 was unavailable since no firm pre-existing contractual commitment, such as a binding letter of credit or equivalent arrangement, was established before the policy change. Confiscation was sustained, while the redemption fine was reduced and the personal penalties were maintained as reasonable. en-us Fri, 26 Apr 1996 00:00:00 +0530 Fri, 05 Aug 2011 10:32:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=85435 Imported used lubricating oil described in the import documents as waste oil was treated as hazardous waste under the EXIM Policy and the Hazardous Wastes (Management and Handling) Rules, 1989, because the record showed no reliable basis to distinguish used oil from waste oil for policy purposes. The transitory protection under Para 5 of the EXIM Policy, 1992-97 was unavailable since no firm pre-existing contractual commitment, such as a binding letter of credit or equivalent arrangement, was established before the policy change. Confiscation was sustained, while the redemption fine was reduced and the personal penalties were maintained as reasonable. Case-Laws Customs Fri, 26 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=85435