https://www.taxtmi.com/caselaws?id=1035 A later import restriction could not be applied retrospectively to defeat a pre-notice vanaspati oil import from Sri Lanka where the importer had already contracted and paid in full before the public notice. The Foreign Trade (Development and Regulation) Act, 1992 authorises import control, but the Foreign Trade Policy, 2004-2009 also recognises transitional protection for imports already placed within the protected period. On the stated facts, the completed transaction was treated consistently with other protected imports, including those backed by irrevocable letters of credit, and duty-free benefit could not be denied on the basis of the later restriction. en-us Wed, 06 Sep 2006 00:00:00 +0530 Mon, 14 Apr 2008 05:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1035 A later import restriction could not be applied retrospectively to defeat a pre-notice vanaspati oil import from Sri Lanka where the importer had already contracted and paid in full before the public notice. The Foreign Trade (Development and Regulation) Act, 1992 authorises import control, but the Foreign Trade Policy, 2004-2009 also recognises transitional protection for imports already placed within the protected period. On the stated facts, the completed transaction was treated consistently with other protected imports, including those backed by irrevocable letters of credit, and duty-free benefit could not be denied on the basis of the later restriction. Case-Laws Customs Wed, 06 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1035