https://www.taxtmi.com/caselaws?id=109205 Import restrictions and export-import policy changes under the Foreign Trade (Development and Regulation) Act, 1990 take effect only when issued by notification in the Official Gazette; a delayed publication cannot give the policy retrospective operation. On that basis, the import of glass bricks was treated as unauthorised and confiscability was upheld. Penalty, however, had to be fixed on objective merits, and not on personal remarks about the importer's representative. In the absence of material showing that the margin of profit supported the amount imposed, the penalty was deleted. en-us Mon, 18 Nov 2002 00:00:00 +0530 Fri, 06 Apr 2012 15:29:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109205 Import restrictions and export-import policy changes under the Foreign Trade (Development and Regulation) Act, 1990 take effect only when issued by notification in the Official Gazette; a delayed publication cannot give the policy retrospective operation. On that basis, the import of glass bricks was treated as unauthorised and confiscability was upheld. Penalty, however, had to be fixed on objective merits, and not on personal remarks about the importer's representative. In the absence of material showing that the margin of profit supported the amount imposed, the penalty was deleted. Case-Laws Customs Mon, 18 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109205