https://www.taxtmi.com/caselaws?id=170285 Second-hand capital goods cleared on full payment of duty without claiming a Foreign Trade Policy exemption were freely importable under paragraph 2.17 of the Foreign Trade Policy 2002-07. No re-export bond was legally required. Consequently, a voluntarily executed but unnecessary bond could not create an enforceable re-export obligation, and non-compliance with that condition could not support redemption fine or penalty. In the absence of a violation of the Foreign Trade Policy or the Customs Act, redemption fine and penalty lacked legal basis and were set aside. en-us Wed, 29 Sep 2010 00:00:00 +0530 Thu, 21 May 2015 16:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170285 Second-hand capital goods cleared on full payment of duty without claiming a Foreign Trade Policy exemption were freely importable under paragraph 2.17 of the Foreign Trade Policy 2002-07. No re-export bond was legally required. Consequently, a voluntarily executed but unnecessary bond could not create an enforceable re-export obligation, and non-compliance with that condition could not support redemption fine or penalty. In the absence of a violation of the Foreign Trade Policy or the Customs Act, redemption fine and penalty lacked legal basis and were set aside. Case-Laws Customs Wed, 29 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170285