https://www.taxtmi.com/caselaws?id=186747 Breach of advance licence conditions and failure to fulfill export obligation can attract penalty where imported goods are not used in accordance with the licence. The authorities found, on detailed examination of the record, that the licence conditions were breached and liability arose under the foreign trade penalty provisions. The Court upheld the penalty in principle, but considered the value of the goods and the statutory punishment range when reviewing quantum, and reduced the penalty amount accordingly. en-us Mon, 07 May 2007 00:00:00 +0530 Tue, 28 Nov 2017 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186747 Breach of advance licence conditions and failure to fulfill export obligation can attract penalty where imported goods are not used in accordance with the licence. The authorities found, on detailed examination of the record, that the licence conditions were breached and liability arose under the foreign trade penalty provisions. The Court upheld the penalty in principle, but considered the value of the goods and the statutory punishment range when reviewing quantum, and reduced the penalty amount accordingly. Case-Laws Customs Mon, 07 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186747