https://www.taxtmi.com/caselaws?id=3984 Quantity-Based Advance Licences under Notification No. 204/92-Cus. were subject to export and transferability conditions, and the credit-related restriction under Rules 56A and 57A of the Central Excise Rules was relevant only where the licence-holder had exported goods and also taken input-stage credit. Alleged suppression before the licensing authority in securing transferability endorsements was treated as a foreign trade law matter, not a basis for Customs penalty under Section 112. Because penalty under Section 112 depends on the imported goods being liable to confiscation under Section 111, the dropping of the duty demand and confiscation proposal meant the penalty proposal could not be sustained. en-us Wed, 28 Feb 2007 00:00:00 +0530 Wed, 14 May 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3984 Quantity-Based Advance Licences under Notification No. 204/92-Cus. were subject to export and transferability conditions, and the credit-related restriction under Rules 56A and 57A of the Central Excise Rules was relevant only where the licence-holder had exported goods and also taken input-stage credit. Alleged suppression before the licensing authority in securing transferability endorsements was treated as a foreign trade law matter, not a basis for Customs penalty under Section 112. Because penalty under Section 112 depends on the imported goods being liable to confiscation under Section 111, the dropping of the duty demand and confiscation proposal meant the penalty proposal could not be sustained. Case-Laws Customs Wed, 28 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3984