https://www.taxtmi.com/caselaws?id=120587 Advance licences allowing 20% flexibility in both quantity and value of the sensitive item, subject to the overall CIF value not being exceeded, were treated as validly utilised where imports remained within the licence terms. Where the revenue alleged inflation in the VABAL application value, the proper course was to seek amendment of the licence through the DGFT as the competent authority. Consistent with Board Circular No. 23/96-Cus dated 19-4-1996, this approach supported complete waiver of pre-deposit of duty, interest and penalty and stay of recovery pending disposal of the appeals. en-us Thu, 04 Jan 2007 00:00:00 +0530 Sat, 21 Jul 2012 14:30:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120587 Advance licences allowing 20% flexibility in both quantity and value of the sensitive item, subject to the overall CIF value not being exceeded, were treated as validly utilised where imports remained within the licence terms. Where the revenue alleged inflation in the VABAL application value, the proper course was to seek amendment of the licence through the DGFT as the competent authority. Consistent with Board Circular No. 23/96-Cus dated 19-4-1996, this approach supported complete waiver of pre-deposit of duty, interest and penalty and stay of recovery pending disposal of the appeals. Case-Laws Customs Thu, 04 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120587