TATA IRON & STEEL CO. LTD. vs COMMNR. OF CENTRAL EXCISE & CUSTOMS

The Supreme Court held that the agreements between Tata Iron & Steel Company Ltd. (TISCO) and Siderugia National of Portugal regarding the sale of equipment and technical documentation were valid and enforceable under the Customs Tariff Act, 1985. The Court clarified that the classification of goods under sub-heading No. 4906.00 was appropriate, allowing TISCO to benefit from a nil duty assessment. The Court upheld the registration of the contract MD 302 under Project Imports Regulations, 1986, affirming the entitlement to concessional duty rates.