Joy Impex imported capital goods for setting-up a sugar plant. The capital goods were warehoused under bond and the warehousing period was to expire on 30 th September, 2013. The proper officer of customs issued the dema

Joy Impex imported capital goods for setting-up a sugar plant. The capital goods were warehoused under bond and the warehousing period was to expire on 30 th September, 2013. The proper officer of customs issued the demand notice under section 72 of the Customs Act, 1962 for removal of goods. Joy Impex filed the Bill of Entry on 25 th March, 2014. The import duty on the capital goods was exempted fully by a Notification dated 17 th February, 2014. Joy Impex claimed exemption from payment of duty contending that the relevant date for rate of duty as per section 15(1)(b) of the Customs Act, 1962 is the date of submission of green bill of entry. Examine with the help of decided case law, whether the contention of the importer is justified.