https://www.taxtmi.com/caselaws?id=269127 Part payment against a proforma invoice before an import restriction can establish that an import arrangement had crystallised before the policy change. Where the proforma invoice pre-dated the restriction and payment was remitted before the restrictive notification, the transaction may have progressed beyond a mere proposal even without a formal written contract or letter of credit. Surrounding circumstances can establish a concluded agreement. On that basis, confiscation under the Customs Act, along with redemption fine and penalty, was treated as unsustainable because concrete steps toward import had been taken before the restriction took effect. en-us Wed, 18 Nov 2015 00:00:00 +0530 Wed, 09 Dec 2015 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269127 Part payment against a proforma invoice before an import restriction can establish that an import arrangement had crystallised before the policy change. Where the proforma invoice pre-dated the restriction and payment was remitted before the restrictive notification, the transaction may have progressed beyond a mere proposal even without a formal written contract or letter of credit. Surrounding circumstances can establish a concluded agreement. On that basis, confiscation under the Customs Act, along with redemption fine and penalty, was treated as unsustainable because concrete steps toward import had been taken before the restriction took effect. Case-Laws Customs Wed, 18 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269127