https://www.taxtmi.com/caselaws?id=183186 The Delhi High Court allowed the sale/re-export/alienation of the vessel, Greatship Akhila, imported under the SFIS Scheme after three years, subject to the petitioner furnishing a bank guarantee of Rs. 12 crores in favor of the respondent. The court clarified that duty payment would be based on entitlement under the Foreign Trade Policy of 2009-14, with no duty payable if entitled, but duty becoming payable if not entitled. The bank guarantee was ordered to safeguard revenue interests in case duty and charges become payable, emphasizing compliance with duty payment obligations. en-us Thu, 22 Jan 2015 00:00:00 +0530 Wed, 01 Jun 2016 12:16:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183186 The Delhi High Court allowed the sale/re-export/alienation of the vessel, Greatship Akhila, imported under the SFIS Scheme after three years, subject to the petitioner furnishing a bank guarantee of Rs. 12 crores in favor of the respondent. The court clarified that duty payment would be based on entitlement under the Foreign Trade Policy of 2009-14, with no duty payable if entitled, but duty becoming payable if not entitled. The bank guarantee was ordered to safeguard revenue interests in case duty and charges become payable, emphasizing compliance with duty payment obligations. Case-Laws Customs Thu, 22 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183186