https://www.taxtmi.com/caselaws?id=107724 Import restrictions under the Exim Policy are to be tested by reference to the shipment or import date, not the later date of duty payment or clearance. On the facts recorded, the goods were shipped and the bill of entry was filed on 3-4-1996, and the applicable policy was Para 5 of the Exim Policy 1992-1997. The contrary approach based on a 45-day period from opening of the letter of credit to payment of duty was rejected as unsustainable, so the confiscation order and penalty could not stand. en-us Wed, 11 Jun 2003 00:00:00 +0530 Mon, 26 Mar 2012 12:05:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107724 Import restrictions under the Exim Policy are to be tested by reference to the shipment or import date, not the later date of duty payment or clearance. On the facts recorded, the goods were shipped and the bill of entry was filed on 3-4-1996, and the applicable policy was Para 5 of the Exim Policy 1992-1997. The contrary approach based on a 45-day period from opening of the letter of credit to payment of duty was rejected as unsustainable, so the confiscation order and penalty could not stand. Case-Laws Customs Wed, 11 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107724