https://www.taxtmi.com/caselaws?id=170285 Second-hand capital goods that were freely importable under the Foreign Trade Policy and cleared on payment of full duty did not attract redemption fine or penalty merely because a re-export bond had been executed unnecessarily. Paragraph 2.17 of the Foreign Trade Policy 2002-07 did not require such a bond for these imports, so the re-export condition could not be treated as a binding obligation. In the absence of any violation of the Foreign Trade Policy or the Customs Act, the attempted enforcement of that unwarranted bond condition had no legal basis, and the article states that redemption fine and penalty were unsustainable. 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 that were freely importable under the Foreign Trade Policy and cleared on payment of full duty did not attract redemption fine or penalty merely because a re-export bond had been executed unnecessarily. Paragraph 2.17 of the Foreign Trade Policy 2002-07 did not require such a bond for these imports, so the re-export condition could not be treated as a binding obligation. In the absence of any violation of the Foreign Trade Policy or the Customs Act, the attempted enforcement of that unwarranted bond condition had no legal basis, and the article states that redemption fine and penalty were unsustainable. Case-Laws Customs Wed, 29 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170285