https://www.taxtmi.com/caselaws?id=32050 The Tribunal dismissed the appeals based on findings of fraud in obtaining DEPB scrips, the cancellation of licenses, and their legal consequences as established by the High Court's decision. The judgment emphasized the appellants' accountability for fraudulent practices, upholding penalties despite arguments on show cause notice specifications and cancellation effects. The court ruled that penalties could be imposed on the original allottee for fraud in obtaining DEPB licenses, even if not imposed on the transferee, with cancellation having retrospective consequences on both utilized and unutilized scrips. en-us Fri, 04 Apr 2008 00:00:00 +0530 Sat, 10 Jan 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32050 The Tribunal dismissed the appeals based on findings of fraud in obtaining DEPB scrips, the cancellation of licenses, and their legal consequences as established by the High Court's decision. The judgment emphasized the appellants' accountability for fraudulent practices, upholding penalties despite arguments on show cause notice specifications and cancellation effects. The court ruled that penalties could be imposed on the original allottee for fraud in obtaining DEPB licenses, even if not imposed on the transferee, with cancellation having retrospective consequences on both utilized and unutilized scrips. Case-Laws Customs Fri, 04 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32050