https://www.taxtmi.com/caselaws?id=106986 The Tribunal ruled in favor of the appellant, setting aside the duty demand of Rs. 73,72,706 on the third section of a vessel that sank en route to Alang, Gujarat. The sinking of the section, which occurred before reaching Alang, qualified for duty exemption under Notification No. 133/87-Cus. The Tribunal also considered the impossibility of fulfilling the bond requirement for duty payment due to the sinking, invoking principles under the Contract Act. The unique circumstances of the vessel becoming a wreck and the practical impossibility of meeting duty obligations led to the decision in favor of the appellant. en-us Sat, 02 Nov 2002 00:00:00 +0530 Fri, 16 Mar 2012 18:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106986 The Tribunal ruled in favor of the appellant, setting aside the duty demand of Rs. 73,72,706 on the third section of a vessel that sank en route to Alang, Gujarat. The sinking of the section, which occurred before reaching Alang, qualified for duty exemption under Notification No. 133/87-Cus. The Tribunal also considered the impossibility of fulfilling the bond requirement for duty payment due to the sinking, invoking principles under the Contract Act. The unique circumstances of the vessel becoming a wreck and the practical impossibility of meeting duty obligations led to the decision in favor of the appellant. Case-Laws Customs Sat, 02 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106986