https://www.taxtmi.com/caselaws?id=45380 Dispute concerned whether customs authorities could be directed to accept a Bill of Entry and permit clearance of a vessel where title was said to be disputed after the vessel drifted, grounded and was abandoned. The Court treated the agreement as an agreement to sell rather than a completed sale because the contractual conditions for transfer of property were not shown to be fulfilled; safe anchorage, delivery of the vessel and release of the letter of credit were not established. It also rejected the contention that the wreck automatically vested in the Central Government under the Merchant Shipping Act, 1958, and applied the principles governing abandonment and ownership of imported goods. On that basis, relief was granted for clearance on payment of duty. en-us Mon, 22 Feb 1999 00:00:00 +0530 Sat, 10 Jul 2010 12:24:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=45380 Dispute concerned whether customs authorities could be directed to accept a Bill of Entry and permit clearance of a vessel where title was said to be disputed after the vessel drifted, grounded and was abandoned. The Court treated the agreement as an agreement to sell rather than a completed sale because the contractual conditions for transfer of property were not shown to be fulfilled; safe anchorage, delivery of the vessel and release of the letter of credit were not established. It also rejected the contention that the wreck automatically vested in the Central Government under the Merchant Shipping Act, 1958, and applied the principles governing abandonment and ownership of imported goods. On that basis, relief was granted for clearance on payment of duty. Case-Laws Customs Mon, 22 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=45380