COLLECTOR OF CUSTOMS. CALCUTTA vs M. SHASHIKANT AND CO.

The Supreme Court clarified its earlier order dated April 18, 1985, stating that additional licence holders could only import items permitted under the Import Policy at the time of import. The Court held that the imported Palm acid oil was a banned item under the 1985-88 Import Policy, rendering the import unauthorized. Consequently, the Tribunal's decision to allow the import based on bona fide was overturned, restoring the Collector of Customs' order of confiscation.