https://www.taxtmi.com/caselaws?id=175053 A transitional import benefit under the Foreign Trade Policy could not be denied mechanically where the importer showed a genuine pre-existing contract entered before the policy change, Customs registration, and partial performance; the absence of an irrevocable letter of credit was not by itself decisive. The refusal communication was also unsustainable because it contained no reasons and showed no proper application of mind to the facts or the object of the transitional clause. The rejection was therefore set aside and the request was remitted for fresh consideration on the merits of the transitional arrangement. en-us Tue, 06 Apr 2010 00:00:00 +0530 Wed, 04 Nov 2015 14:51:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175053 A transitional import benefit under the Foreign Trade Policy could not be denied mechanically where the importer showed a genuine pre-existing contract entered before the policy change, Customs registration, and partial performance; the absence of an irrevocable letter of credit was not by itself decisive. The refusal communication was also unsustainable because it contained no reasons and showed no proper application of mind to the facts or the object of the transitional clause. The rejection was therefore set aside and the request was remitted for fresh consideration on the merits of the transitional arrangement. Case-Laws FEMA Tue, 06 Apr 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175053