https://www.taxtmi.com/caselaws?id=48031 Export restrictions under the Foreign Trade Policy could not be applied retrospectively to consignments covered by an irrevocable letter of credit opened before the restrictive notification and amended before the cut-off date. The policy amendment took effect only on notification in the Official Gazette, and the transitional clause in the Foreign Trade Policy 2004-09 protected exports that were freely permitted where shipment was made within the original validity of the letter of credit, absent a contrary stipulation. The covered export of red whole lentils was therefore protected, and interference with shipment within the letter of credit period was not justified. en-us Wed, 02 Aug 2006 00:00:00 +0530 Mon, 02 Aug 2010 12:53:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48031 Export restrictions under the Foreign Trade Policy could not be applied retrospectively to consignments covered by an irrevocable letter of credit opened before the restrictive notification and amended before the cut-off date. The policy amendment took effect only on notification in the Official Gazette, and the transitional clause in the Foreign Trade Policy 2004-09 protected exports that were freely permitted where shipment was made within the original validity of the letter of credit, absent a contrary stipulation. The covered export of red whole lentils was therefore protected, and interference with shipment within the letter of credit period was not justified. Case-Laws Customs Wed, 02 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48031