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[Cites 0, Cited by 2] [Section 11J] [Entire Act]

Union of India - Subsection

Section 11J(2) in The Customs Act, 1962

(2)Every person who acquires (within the specified area), after the specified date, any specified goods,-
(i)the market price of which, or
(ii)the market price of which together with the market price of any specified goods of the same class or description, if any, owned, possessed or controlled by him on the date of such acquisition, exceeds fifteen thousand rupees, shall, before making such acquisition, deliver to the proper officer an intimation containing the particulars of the place where such goods are proposed to be kept or stored after such acquisition:
Provided that a person who has delivered an intimation, whether under sub-section (1) or sub-section (2), in relation to any specified goods, owned, possessed, controlled or acquired by him, shall not be required to deliver any further intimation so long as the specified goods are kept or stored at the intimated place.