https://www.taxtmi.com/caselaws?id=210824 A petitioner who accepted a provisional EPCG arrangement on an express undertaking to pay duty saved with interest if higher approval was not granted could not later resist recovery. The Madras High Court treated the policy circulars clarifying the Foreign Trade Policy as applicable, noted that the petitioner had enjoyed clearance of the goods without challenging the rejection at the relevant stage, and held that the Department could invoke the bank guarantee to recover the customs duty. The challenge to the refusal of EPCG benefit and the consequential recovery action was rejected. en-us Tue, 26 Oct 2010 00:00:00 +0530 Wed, 22 Feb 2012 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210824 A petitioner who accepted a provisional EPCG arrangement on an express undertaking to pay duty saved with interest if higher approval was not granted could not later resist recovery. The Madras High Court treated the policy circulars clarifying the Foreign Trade Policy as applicable, noted that the petitioner had enjoyed clearance of the goods without challenging the rejection at the relevant stage, and held that the Department could invoke the bank guarantee to recover the customs duty. The challenge to the refusal of EPCG benefit and the consequential recovery action was rejected. Case-Laws Customs Tue, 26 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210824