https://www.taxtmi.com/caselaws?id=250094 Surplus marine gas oil or high speed diesel lying in fuel tanks of vessels purchased for ship-breaking was treated as an integral part of the vessel under Heading 89.08, not as a separate restricted import item. The DGFT clarification on interpretation and classification under the Foreign Trade Policy was binding and stated that such fuel formed part of the vessel brought for breaking up. On that basis, the proposed confiscation under Section 111(d) of the Customs Act, 1962 and penalty under Section 112(a) could not be sustained because the fuel was not to be assessed separately under the import policy. en-us Tue, 08 Jul 2014 00:00:00 +0530 Tue, 25 Nov 2014 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250094 Surplus marine gas oil or high speed diesel lying in fuel tanks of vessels purchased for ship-breaking was treated as an integral part of the vessel under Heading 89.08, not as a separate restricted import item. The DGFT clarification on interpretation and classification under the Foreign Trade Policy was binding and stated that such fuel formed part of the vessel brought for breaking up. On that basis, the proposed confiscation under Section 111(d) of the Customs Act, 1962 and penalty under Section 112(a) could not be sustained because the fuel was not to be assessed separately under the import policy. Case-Laws Customs Tue, 08 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250094