https://www.taxtmi.com/caselaws?id=48695 Para 211 of the Import Policy 1979-80 protected a restricted REP licence only where the licence holder had made a firm import commitment by opening an irrevocable letter of credit before the cut-off date. A letter of authority holder could act for the licence holder, but the credit had to relate to that licence holder's own commitment. Section 147 of the Customs Act could not expand the policy concession. Because the credit originally related to other licences and the licence in the relevant name was added only later by amendment, the import did not qualify and was treated as unauthorised, with confiscation restored. en-us Fri, 14 Aug 1987 00:00:00 +0530 Mon, 06 Nov 2023 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48695 Para 211 of the Import Policy 1979-80 protected a restricted REP licence only where the licence holder had made a firm import commitment by opening an irrevocable letter of credit before the cut-off date. A letter of authority holder could act for the licence holder, but the credit had to relate to that licence holder's own commitment. Section 147 of the Customs Act could not expand the policy concession. Because the credit originally related to other licences and the licence in the relevant name was added only later by amendment, the import did not qualify and was treated as unauthorised, with confiscation restored. Case-Laws Customs Fri, 14 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48695