https://www.taxtmi.com/caselaws?id=269172 Customs authorities could not insist on a 100% bank guarantee for provisional release of goods imported under AIFTA preference without first following the prescribed procedure for rejecting the certificate of origin and undertaking retroactive verification. A certificate of origin could not be ignored on mere suspicion, and any suspension of preferential treatment had to remain within the statutory framework. The court held that the demand for full security was arbitrary and unsustainable, set aside the impugned communication, and permitted release of the goods on payment of 30% duty and a surety bond for the balance, subject to final assessment under Section 18. en-us Wed, 09 Sep 2015 00:00:00 +0530 Thu, 25 Feb 2016 11:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269172 Customs authorities could not insist on a 100% bank guarantee for provisional release of goods imported under AIFTA preference without first following the prescribed procedure for rejecting the certificate of origin and undertaking retroactive verification. A certificate of origin could not be ignored on mere suspicion, and any suspension of preferential treatment had to remain within the statutory framework. The court held that the demand for full security was arbitrary and unsustainable, set aside the impugned communication, and permitted release of the goods on payment of 30% duty and a surety bond for the balance, subject to final assessment under Section 18. Case-Laws Customs Wed, 09 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269172