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2009 (8) TMI 110 - HC - CustomsWhether considering Regulation 5(4), was it open to an importer to import capital goods and other goods for setting out a Project Import Scheme and in such an event whether the same would be covered by tariff entry 98.01? Held that:- Considering the language of Regulation 5(4) the said regulation will have to be read to mean that if contracts entered into are registered with then the import can be done either under an Import Trade Control licence or R.E.P. Licence so long as the importer has a contract in which the goods sought to be imported are specified and the import is based on the Import Policy. Once such held, it would be clear that the appropriate Customs House Officer had the jurisdiction to register the contract as long as the application was made to him along with the accompanying contract entered into between importer and the person from whom the goods are to be imported. In the instant case, the fact that the importer entered into a contract has not been disputed. The fact that the importer had REP licence were not disputed. In that context, the relief sought for would have to be granted. Petition allowed, the respondents have been directed to register the contract on complying with the requirements set out therein. The bank guarantee furnished, pursuant to the order for 20% of differential duty is directed to be returned duly cancelled.
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