2001 (12) TMI 756

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....Jyoti Balasundaram, Member (J)]. -  The appellant imported defective CRGO sheets under the strength of two REP licences. These licences were issued on 27-8-1990 and 26-9-1991. At the time of import the 1990-93 Import Trade Control Policy was in force. The items made importable under the Policy 1988-90 were not permissible in the later Policy. The licence dated 27-8-1990 contained the prescri....

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.... that case the licences were issued during the currency of the Policy 1992-93 but were subject to the conditions as applicable under 1989-90 Policy. The Tribunal in Paragraphs 4 and 8 of the order held as under : "4. These licences contained a condition on the reverse that they are subject to the import policy in force relating to the goods as described in the policy, or any amendment made, ....