https://www.taxtmi.com/caselaws?id=48671 The Tribunal allowed the appeal, concluding that the appellants are entitled to remission of duty under Section 23(1) of the Customs Act, 1962, for transit losses of petroleum products. It determined that these losses fall under the scope of "lost or destroyed" before clearance for home consumption. The bond executed by the importer, which required payment of duty on short-received goods, cannot override this statutory provision. The Tribunal directed the concerned Collector to provide consequential relief to the appellants within four months. en-us Thu, 02 May 1985 00:00:00 +0530 Wed, 01 Nov 2023 13:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48671 The Tribunal allowed the appeal, concluding that the appellants are entitled to remission of duty under Section 23(1) of the Customs Act, 1962, for transit losses of petroleum products. It determined that these losses fall under the scope of "lost or destroyed" before clearance for home consumption. The bond executed by the importer, which required payment of duty on short-received goods, cannot override this statutory provision. The Tribunal directed the concerned Collector to provide consequential relief to the appellants within four months. Case-Laws Customs Thu, 02 May 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48671