https://www.taxtmi.com/caselaws?id=371265 The Delhi HC noted that, under the Production Sharing Contract, the contractor's right to lift and export crude oil arose only after India attained self-sufficiency, or upon Government payment default, or where the Government declined to purchase after self-sufficiency. Mere inability of the Government to lift the full quantity did not create an export right. The foreign trade regime likewise did not confer an independent entitlement to direct or canalised export, because crude oil remained subject to canalisation through the designated state trading enterprise and the policy could not override contractual restrictions or public interest considerations. The challenge to refusal of export permission therefore failed. en-us Wed, 28 Nov 2018 00:00:00 +0530 Sat, 31 Aug 2019 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371265 The Delhi HC noted that, under the Production Sharing Contract, the contractor's right to lift and export crude oil arose only after India attained self-sufficiency, or upon Government payment default, or where the Government declined to purchase after self-sufficiency. Mere inability of the Government to lift the full quantity did not create an export right. The foreign trade regime likewise did not confer an independent entitlement to direct or canalised export, because crude oil remained subject to canalisation through the designated state trading enterprise and the policy could not override contractual restrictions or public interest considerations. The challenge to refusal of export permission therefore failed. Case-Laws Customs Wed, 28 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371265