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TMI Blog1992 (7) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... , were all done prior to 3-4-1986 and consequently, the Project Imports and duty concession as provided under Regulations of 1965 were available in respect of the goods. The respondents did not accept the above stand. The petitioners thereupon approached this Court for reliefs. 2. In its return, the respondents have stressed the coming into force the Customs Tariff Act, 1975 and the replacement of Heading No. 72(A) by Heading No. 84.66. Section 15 of the Customs Act, 1962 provides the crucial dates with reference to which the rate of duty is to be determined. The rate and valuation to be adopted are those in force, with reference to the three categories as enumerated therein. The date on which the Bill of Entry is presented is relevant in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the import of the types of goods. 4A. In the fiscal area, the Government of the day is entitled to operate in a fairly free manner; flexibility at the join has been conceded to it. The presumption of constitutionality of the enactment gets an added support in the field of fiscal legislation. Very many factors enter in the formulation of the fiscal policy. It may require sudden changes and drastic ones too. The Government is the best Judge of such situations. The policy gets reflected in provisions of the Act. Levy of duty could be only by authority of law. That is what Article 265 of the Constitution insists. When, therefore, a matter is governed by law, the only further query is about particular rules which are applicable to a partic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with regard to import of goods under Project Import. We do not agree. Section 157 of the Customs Act confers power to frame regulations. Regulations have been so framed in exercise of the above power. Section 157(2) furnishes illustrations of the general powers conferred under Section 157(1). In the present case, the rate at which the duties of customs are to be levied are those provided under the 1st Schedule. That is the declaration of Section 2 of Customs Tariff Act. The 1st Schedule contains 21 Sections consisting of 99 Chapters. General Rules for the interpretation of the 1st Schedule are set out. The following provision is particularly relevant: "1. The titles of sections, chapters and sub-chapters are provided for case reference on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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