COMMISSIONER OF CUSTOMS, MUMBAI vs M/S VIRGO STEEL, BOMBAY

The Supreme Court held that M/s. Virgo Steels contravened the Customs Act, 1962 by importing steel duty-free after the abandonment of the ACC project, thus rendering the import illegal under Notification No.210/82. The Court affirmed the Collector of Customs' order demanding duty and imposing a penalty, emphasizing that the acceptance of the advance license was contingent upon the actual use of the goods for the specified purpose. The Court upheld the liability of M/s. Virgo Steels and ACC for the unpaid duties and penalties, reinforcing the legal principle that compliance with import conditions is mandatory.