https://www.taxtmi.com/caselaws?id=92983 Transitional protection under the EXIM Policy applied where the import restriction came into force on 25-3-1996, the letter of credit had been opened earlier, and the shipment was cleared within the 45-day transitional period. The 45 days were to be counted from the date of imposition of the restriction, not merely from the letter of credit or duty payment date. On that basis, the consignment fell within the transitional provisions, the import restriction was inapplicable, and confiscation and penalty could not be sustained. en-us Tue, 13 Jul 1999 00:00:00 +0530 Mon, 07 Nov 2011 15:08:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92983 Transitional protection under the EXIM Policy applied where the import restriction came into force on 25-3-1996, the letter of credit had been opened earlier, and the shipment was cleared within the 45-day transitional period. The 45 days were to be counted from the date of imposition of the restriction, not merely from the letter of credit or duty payment date. On that basis, the consignment fell within the transitional provisions, the import restriction was inapplicable, and confiscation and penalty could not be sustained. Case-Laws Customs Tue, 13 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92983