https://www.taxtmi.com/caselaws?id=152401 Second-hand beams imported for wrap knitting machines were treated as freely importable capital goods under the Foreign Trade Policy. Paragraph 2.17 permits free import of second-hand capital goods, and paragraph 9.12 defines capital goods broadly to include plant, machinery, equipment and accessories used in manufacture or production. The goods were found to be separate equipment for supplying yarn in the knitting process, not merely restricted spares, so they fell within the capital goods definition. On that basis, the import did not contravene customs law or the policy, and confiscation, redemption fine and penalty were unsustainable. en-us Fri, 28 Aug 2009 00:00:00 +0530 Tue, 02 Jul 2013 17:36:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152401 Second-hand beams imported for wrap knitting machines were treated as freely importable capital goods under the Foreign Trade Policy. Paragraph 2.17 permits free import of second-hand capital goods, and paragraph 9.12 defines capital goods broadly to include plant, machinery, equipment and accessories used in manufacture or production. The goods were found to be separate equipment for supplying yarn in the knitting process, not merely restricted spares, so they fell within the capital goods definition. On that basis, the import did not contravene customs law or the policy, and confiscation, redemption fine and penalty were unsustainable. Case-Laws Customs Fri, 28 Aug 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152401