https://www.taxtmi.com/caselaws?id=325757 The court ruled that a petitioner, not the owner but holding an Importer-Exporter Code, is entitled to provisional release of imported goods under Sections 110-A and 125 of the Customs Act. The court emphasized that possession or ownership is crucial for release, regardless of legal ownership. The petitioner's use of the IEC did not absolve liability under the Customs Act, emphasizing licensee responsibility until Customs clearance. Goods were directed for release to the petitioner without delay, with misuse of the IEC to be addressed separately by the Directorate General of Foreign Trade. en-us Mon, 29 Feb 2016 00:00:00 +0530 Sat, 05 Nov 2016 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325757 The court ruled that a petitioner, not the owner but holding an Importer-Exporter Code, is entitled to provisional release of imported goods under Sections 110-A and 125 of the Customs Act. The court emphasized that possession or ownership is crucial for release, regardless of legal ownership. The petitioner's use of the IEC did not absolve liability under the Customs Act, emphasizing licensee responsibility until Customs clearance. Goods were directed for release to the petitioner without delay, with misuse of the IEC to be addressed separately by the Directorate General of Foreign Trade. Case-Laws Customs Mon, 29 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325757