https://www.taxtmi.com/caselaws?id=202575 The Court upheld the Directorate General of Foreign Trade's view that the sale of a residential building against payment in free foreign exchange does not qualify as a "service" under the Served From India Scheme (SFIS) for Duty Free Credit Entitlement (DFCE) Certificates. It determined that DFCE certificates are considered licenses under the Foreign Trade (Development and Regulation) Act. The Court found the DGFT justified in initiating proceedings to cancel duty free scrips and in not entertaining the Petitioner's applications for DFCE certificates based on the entire sale consideration of immovable property. Show cause notices for misrepresentation of facts were deemed sustainable, and the Petitioner was given an opportunity to respond. en-us Fri, 24 Dec 2010 00:00:00 +0530 Tue, 04 Jun 2013 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202575 The Court upheld the Directorate General of Foreign Trade's view that the sale of a residential building against payment in free foreign exchange does not qualify as a "service" under the Served From India Scheme (SFIS) for Duty Free Credit Entitlement (DFCE) Certificates. It determined that DFCE certificates are considered licenses under the Foreign Trade (Development and Regulation) Act. The Court found the DGFT justified in initiating proceedings to cancel duty free scrips and in not entertaining the Petitioner's applications for DFCE certificates based on the entire sale consideration of immovable property. Show cause notices for misrepresentation of facts were deemed sustainable, and the Petitioner was given an opportunity to respond. Case-Laws Customs Fri, 24 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202575