https://www.taxtmi.com/caselaws?id=165644 The Government, in a revision application, determined that despite the original Letter of Credit being opened before the specified date, subsequent alterations to price and quantity indicated a new agreement rather than a continuation of the original commitment for importation. Emphasizing the importance of maintaining core terms of a transaction, the Government held that the changes made were for profit motives, leading to the rejection of the application. The confiscation order on the goods was upheld, highlighting the significance of adhering to policy provisions and upholding the integrity of commercial agreements. en-us Tue, 20 May 1980 00:00:00 +0530 Tue, 05 Aug 2014 11:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165644 The Government, in a revision application, determined that despite the original Letter of Credit being opened before the specified date, subsequent alterations to price and quantity indicated a new agreement rather than a continuation of the original commitment for importation. Emphasizing the importance of maintaining core terms of a transaction, the Government held that the changes made were for profit motives, leading to the rejection of the application. The confiscation order on the goods was upheld, highlighting the significance of adhering to policy provisions and upholding the integrity of commercial agreements. Case-Laws Customs Tue, 20 May 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165644