https://www.taxtmi.com/caselaws?id=43174 The court denied the petitioner's request for an extension of time to furnish a bank guarantee, emphasizing the need to follow proper procedures including submitting a Bill of Entry and completing inventory before breaking the vessel. The court clarified that customs duty liability on the ship sold in distress under court orders would only arise after these steps were fulfilled, directing the parties to adhere to the sale terms to protect their respective interests and ensure fair treatment. en-us Thu, 14 Aug 1986 00:00:00 +0530 Wed, 16 Jun 2010 15:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=43174 The court denied the petitioner's request for an extension of time to furnish a bank guarantee, emphasizing the need to follow proper procedures including submitting a Bill of Entry and completing inventory before breaking the vessel. The court clarified that customs duty liability on the ship sold in distress under court orders would only arise after these steps were fulfilled, directing the parties to adhere to the sale terms to protect their respective interests and ensure fair treatment. Case-Laws Customs Thu, 14 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=43174