https://www.taxtmi.com/caselaws?id=325985 A transferee of REP licences was not denied the benefit of those licences because the department failed to prove that he knew of the fraud by which the original holders obtained them. The record, including premium paid, payment in gold, debit notes, and the absence of further enquiry, was insufficient to establish guilty knowledge, while contemporaneous books and supporting evidence indicated bona fide purchase. A fraudulently procured licence remains operative until cancelled according to law, so imports made while it was valid cannot be treated as illegal merely because the licence was later cancelled. Duty demand, confiscation and penalty were therefore unsustainable. en-us Tue, 22 Mar 2016 00:00:00 +0530 Tue, 15 Nov 2016 14:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325985 A transferee of REP licences was not denied the benefit of those licences because the department failed to prove that he knew of the fraud by which the original holders obtained them. The record, including premium paid, payment in gold, debit notes, and the absence of further enquiry, was insufficient to establish guilty knowledge, while contemporaneous books and supporting evidence indicated bona fide purchase. A fraudulently procured licence remains operative until cancelled according to law, so imports made while it was valid cannot be treated as illegal merely because the licence was later cancelled. Duty demand, confiscation and penalty were therefore unsustainable. Case-Laws Customs Tue, 22 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325985