https://www.taxtmi.com/caselaws?id=758267 CESTAT Mumbai allowed appeals challenging denial of VABAL license benefits to transferees. Revenue sought to recover foregone customs duty under Section 28 and imposed penalties under Section 114A for alleged overvaluation. The Tribunal found no legal basis for recovery as DGFT authorities had not cancelled the three licenses in question, and amendments were properly issued by jurisdictional authorities. Following precedents in Ajay Kumar Co. and Hico Enterprises, the Tribunal held that valid licenses at import time protect transferees from subsequent actions, and notification benefits cannot be denied to transferees for original licensee's condition breaches. The demand confirmation and penalty imposition were set aside. en-us Mon, 02 Sep 2024 00:00:00 +0530 Tue, 10 Sep 2024 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758267 CESTAT Mumbai allowed appeals challenging denial of VABAL license benefits to transferees. Revenue sought to recover foregone customs duty under Section 28 and imposed penalties under Section 114A for alleged overvaluation. The Tribunal found no legal basis for recovery as DGFT authorities had not cancelled the three licenses in question, and amendments were properly issued by jurisdictional authorities. Following precedents in Ajay Kumar Co. and Hico Enterprises, the Tribunal held that valid licenses at import time protect transferees from subsequent actions, and notification benefits cannot be denied to transferees for original licensee's condition breaches. The demand confirmation and penalty imposition were set aside. Case-Laws Customs Mon, 02 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758267