Madras HC Allows Re-Export of Misclassified Textile Fabric to China Subject to Bond & Bank Guarantee

Gayatri Exim Vs Principal Commissioner of Customs (Chennai-III) (Madras High Court) The Madras High Court, in the case of Gayatri Exim Vs Principal Commissioner of Customs (Chennai-III), passed an order allowing the petitioner, an importer, to re-export a consignment of textile fabric back to the supplier in China. The goods had been detained and seized by the Customs authorities on grounds of alleged misclassification and undervaluation, leading to a potential confiscation under the Customs Act, 1962. Background of the Case The petitioner, Gayatri Exim, imported 798 Bales of Textile Fabric Co...