Commissioner Of Customs vs Bhuta Brothers And Ors. on 18 March, 1998
6. We find that the decision in the case of Gokaldas Harbhagawandas of the Tribunal supra is distinguishable. In that case it would appear that on 1.9.1977 the importers in that case requested the State Bank of India for opening letter of credit and a letter of credit was opened on that day and number and the date as well as the amount had been indicated to the suppliers which fact was also borne bout by a confirmation of the suppliers dated 1.9.1997. The L/c therein was actually issued on 5.9.97. In the present case there is no such factual parallel. The Respondents had merely applied to the bank for the issue of letter of credit on 3.9.91 and the letter of credit was actually issued on 5.9.91 on which date the public notice had also been issued. There is nothing to indicate as in the case law relied upon that on 3.9.91 itself the particulars of the letter of credit were transmitted to the suppliers of the Respondents abroad. Therefore this case does not help the Respondents.