https://www.taxtmi.com/caselaws?id=336562 The Tribunal allowed M/s Seamec Ltd to take the vessel "MV Seamec III" out of the country for a project in Dubai, considering the vessel's history and the need for maintenance. Despite the vessel's confiscation in 2013 and imposition of fines, the Tribunal granted release for six months for commercial purposes and dry docking, subject to specified bank guarantees and bond to safeguard public revenue interests. The decision balanced the appellant's need to utilize the asset with the importance of protecting public revenue. en-us Mon, 09 May 2016 00:00:00 +0530 Sat, 24 Dec 2016 07:53:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336562 The Tribunal allowed M/s Seamec Ltd to take the vessel "MV Seamec III" out of the country for a project in Dubai, considering the vessel's history and the need for maintenance. Despite the vessel's confiscation in 2013 and imposition of fines, the Tribunal granted release for six months for commercial purposes and dry docking, subject to specified bank guarantees and bond to safeguard public revenue interests. The decision balanced the appellant's need to utilize the asset with the importance of protecting public revenue. Case-Laws Customs Mon, 09 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336562