https://www.taxtmi.com/caselaws?id=92661 Reversal of wrongly availed Modvat credit, together with payment of interest as required by the relevant trade notice, was treated as curing the earlier breach of the licensing condition. Once those stipulated steps were completed, the defect affecting eligibility for transfer of the advance licence was removed, and the transferee remained entitled to duty-free import under the transferred licence. The tribunal accordingly accepted that compliance restored the licence conditions and upheld the benefit of duty-free import. en-us Mon, 08 Feb 1999 00:00:00 +0530 Fri, 04 Nov 2011 12:13:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92661 Reversal of wrongly availed Modvat credit, together with payment of interest as required by the relevant trade notice, was treated as curing the earlier breach of the licensing condition. Once those stipulated steps were completed, the defect affecting eligibility for transfer of the advance licence was removed, and the transferee remained entitled to duty-free import under the transferred licence. The tribunal accordingly accepted that compliance restored the licence conditions and upheld the benefit of duty-free import. Case-Laws Central Excise Mon, 08 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92661