1994 (10) TMI 63

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....at US $ 1.20 per kg. from Egypt. On June 5, 1982, the petitioners filed bill of entry for warehousing. On October 7, 1982 the Customs authorities endorsed on bill of entry that "Ex-bonding is not allowed". The customs authorities referred the matter to SIIB for price verification. By Finance Act, 1983, the Government of India prescribed that in respect of warehousing of goods, the facility will be....

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.... amended provisions. The petitioners then filed the present petition on June 19, 1986 seeking clearance of goods without payment of interest. 3. Shri Parsurampuria, learned counsel appearing on behalf of the petitioners, submitted that the demand for payment of interest is not justified. The learned counsel urged that the provision for payment of interest came into force only on May 13, 1983 and ....