https://www.taxtmi.com/caselaws?id=265054 Bona fide transferees who acquire transferable DEPB or DFIA licences for value without notice of exporter fraud are described as retaining customs-duty exemption for imports made before cancellation of the scrips. Transferability endorsements and customs verification are treated as supporting reliance on the instruments, while fraudulently obtained licences are characterised as voidable rather than automatically void against innocent purchasers. Where transferees did not participate in the fraud, duty recovery, confiscation, interest and penalties are stated to be unsustainable. Extended-period recovery is also described as unavailable on those facts, particularly where duty has already been settled or recovered from the original exporters. en-us Mon, 31 Aug 2015 00:00:00 +0530 Tue, 06 Oct 2015 06:02:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265054 Bona fide transferees who acquire transferable DEPB or DFIA licences for value without notice of exporter fraud are described as retaining customs-duty exemption for imports made before cancellation of the scrips. Transferability endorsements and customs verification are treated as supporting reliance on the instruments, while fraudulently obtained licences are characterised as voidable rather than automatically void against innocent purchasers. Where transferees did not participate in the fraud, duty recovery, confiscation, interest and penalties are stated to be unsustainable. Extended-period recovery is also described as unavailable on those facts, particularly where duty has already been settled or recovered from the original exporters. Case-Laws Customs Mon, 31 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265054