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2014 (7) TMI 60 - AT - CustomsImport of old and used Buoyancy Tanks along with wire ropes, shackles chain blocks and hydraulic pumps for the purpose of laying off-shore pipeline at various projects sites - Violation of Foreign Trade Policy 2004-09 - Confiscation of goods - Redemption fine - Penalty - Held that:- Appellant has imported old and used Buoyancy Tanks along with wire ropes, shackles chain blocks and hydraulic pumps. In fact, these imported goods are being used by the appellant for laying off-shore pipeline which means these goods are capital goods imported for rendering the service. As per para 2.17 of the Foreign Trade Policy 2004-09, the old and used goods can be imported freely without obtaining any specific licence. Therefore, I hold that the appellant is not required to obtain any licence for importation of the impugned goods. Hence, the question of confiscation of the said goods does not arise and consequently, the redemption fine and penalty are also not imposable. - decided in favour of assessee.
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