Schedule
which included the Sea Customs Act,
306
1878, the Imports & Exports Trade (Control) Act, 1947 , and
the Foreign Exchange Regulation Act, 1947 , were ... concept of import, in dealing with the provisions of the Sea
Customs Act and the Imports and Exports Trade (Control
that service includes trading also and appellant has
done trading from SEZ Act of the imported goods which have
been re- exported after processing ... interest, but was for its export business. The assessee in the course of its
business of import/export trading in diamonds opened a Letter
applicable to
exports (except Export Declaration Form) and imports (except Bill of
Entry) shall be complied with for the export leg and import leg
respectively ... applicable
to exports (except Export Declaration Form) and imports
(except Bill of Entry) shall be complied with for the export
leg and import leg respectively
Vasuki vs Lng Trade Import And Exports (P) Ltd
Bench: Vijaya K.Tahilramani , M.Duraiswamy
1
IN THE HIGH COURT OF JUDICATURE AT MADRAS
RESERVED ... Mangalam
3. Mr.R.Ganesh ... Petitioners
v.
1. LNG Trade Import and Exports (P) Ltd
Rep. By its Managing Director
189, Chetty Street
Pondicherry
that the petitioner have been showing
purchases from M/s. Tianchao Import Export Trading Private
Limited and M/s. Pipeguard Trading Private Limited. The
Chinese ... through this
channel. Further, it was found that M/s. Tianchao Import
Export Trading Private Limited and M/s. Pipeguard Trading
Private Limited are just
that service includes
trading also and appellant has done trading from SEZ Act of the imported
goods which have been re- exported after processing ... benefit and deduction u/s.10M of the Act on the
import-export trading activity of the appellant. However, no such
benefits should be given
that the words "export out of" and "import
into" mean the exportation out of the country and
importation into the country respectively ... contracts concluded with them. Similarly with
regard to import trade, large import houses imported
machinery and consumer goods wholesale and sold them to
retail dealers
Imported into India against
an Advance Licence" includes --
(a) goods imported under any
licence (including Open General
Licence) issued under the Imports
and Exports ... valid Advance Licence is produced
by the importer;"
xxx xxx
xxx
"IMPORT - EXPORT (TRADE) POLlCY
1990-93. (Blue Book)
Import of items
replaced, in so far as the imports and exports control is
concerned, by the Imports and Exports (Control) Act, 1947 . It came
into force ... said FTP contains general provisions
regarding imports and exports. Para 2.1 thereof provides that exports
and imports shall be free, except where regulated
exports or intend to export and holds an importer exporter code number. Under Rule 7(26), merchant exporter means a person engaged in trading activity ... amounts to import or export. This definition is intended to govern the physical import and export, which was also regulated by Foreign Trade (Regulation
