https://www.taxtmi.com/caselaws?id=48031 The court ruled in favor of the petitioner, emphasizing that the government cannot retrospectively apply amendments to the Foreign Trade Policy to transactions covered by valid Letters of Credit opened before the imposition of restrictions. The court allowed the writ application, preventing interference with the export of lentils covered by the petitioner's Letter of Credit, provided the shipment is within the Letter of Credit's validity period. The decision underscores the necessity of following legal procedures for policy amendments to avoid impacting ongoing transactions. 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 The court ruled in favor of the petitioner, emphasizing that the government cannot retrospectively apply amendments to the Foreign Trade Policy to transactions covered by valid Letters of Credit opened before the imposition of restrictions. The court allowed the writ application, preventing interference with the export of lentils covered by the petitioner's Letter of Credit, provided the shipment is within the Letter of Credit's validity period. The decision underscores the necessity of following legal procedures for policy amendments to avoid impacting ongoing transactions. Case-Laws Customs Wed, 02 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48031