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TMI Blog1997 (2) TMI 326X X X X Extracts X X X X X X X X Extracts X X X X ..... respondent in this appeal, filed two shipping bills for export of goods which were described as dyed printed polyester viscose blended fabrics. The warp and weft were declared to consist of polyester filament yarn of 75 denier and polyester sample blended yarn of 1.4 denier. Analysis of a sample of the goods tendered for export showed that the yarn was of higher denier and hence lower in quality ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... considered to be prohibited because they did not conform to the declaration which was required in terms of Section 50(2) of the Customs Act. Therefore, the goods became liable to confiscation. Further, by the notification issued in terms of Section 18(1)(a) of the Foreign Exchange Regulation Act, 1973, the Central Government prohibited export of goods in respect of which the exporter had not furni ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h by the Supreme Court in its decision in Union of India v. Rai Bahadur Shreeram Durga Prasad (P) Ltd. CFC (S.C.) 188. The Court held therein that declaration under Section 12(1) (of the Foreign Exchange Regulation Act) is only to the effect that the amount representing the full export value of the goods has been or will be paid in the prescribed manner. Since, such a declaration had been made, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ft in the hands of the Reserve Bank and the Director of Enforcement. 4. Sections 12(1) and 23A of the then Act correspond to Sections 18(1) and Section 67 of the Foreign Exchange Regulation Act as it stands today. Therefore, applying the ratio of this decision, it would follow that goods in respect of which a declaration has been made in terms of a notification issued under Section 12(1) would ..... X X X X Extracts X X X X X X X X Extracts X X X X
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