https://www.taxtmi.com/caselaws?id=335733 Goods imported against REP licences were treated as lawfully imported where the licences were valid on the date of import, even though their procurement was later found tainted by fraud and the licences were subsequently cancelled. A licence obtained by fraud was treated as voidable rather than non est, so later cancellation did not retrospectively make the import unauthorised. As the goods had already been processed and disposed of and were no longer available, confiscation and consequential redemption fine were held unsustainable. Penalties were also set aside, and the appeals were allowed in favour of the assessee. en-us Tue, 08 Nov 2016 00:00:00 +0530 Thu, 08 Dec 2016 15:50:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335733 Goods imported against REP licences were treated as lawfully imported where the licences were valid on the date of import, even though their procurement was later found tainted by fraud and the licences were subsequently cancelled. A licence obtained by fraud was treated as voidable rather than non est, so later cancellation did not retrospectively make the import unauthorised. As the goods had already been processed and disposed of and were no longer available, confiscation and consequential redemption fine were held unsustainable. Penalties were also set aside, and the appeals were allowed in favour of the assessee. Case-Laws Customs Tue, 08 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335733