https://www.taxtmi.com/caselaws?id=44039 Where a later import policy expressly preserved the validity of licences issued before its commencement, import of raw silk against pre-existing REP Licences/Exim Scrip remained protected despite the item being placed in the negative list. The earlier policy had permitted such imports, and a subsequent clarificatory circular could not override the policy's transitional clause or extinguish the entitlement already created by valid licences. An executive clarification inconsistent with the governing policy was therefore ineffective, and the import entitlement under the saved licences prevailed. en-us Mon, 31 Jan 1994 00:00:00 +0530 Tue, 22 Jun 2010 16:34:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44039 Where a later import policy expressly preserved the validity of licences issued before its commencement, import of raw silk against pre-existing REP Licences/Exim Scrip remained protected despite the item being placed in the negative list. The earlier policy had permitted such imports, and a subsequent clarificatory circular could not override the policy's transitional clause or extinguish the entitlement already created by valid licences. An executive clarification inconsistent with the governing policy was therefore ineffective, and the import entitlement under the saved licences prevailed. Case-Laws Customs Mon, 31 Jan 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44039