https://www.taxtmi.com/caselaws?id=759978 CESTAT Bangalore held that duty demand on imports using fraudulently obtained DEPB scrips was valid, even though appellant purchased them from open market believing them to be genuine. The tribunal relied on SC precedent in Munjal Showa Ltd. case establishing that forged DEPB scrips cannot confer exemption benefits. However, penalty under Section 114A of Customs Act was set aside as appellant was unaware of fraudulent nature of the scrips at time of purchase and import. Appeal was allowed partially - duty demand upheld but penalty removed. en-us Tue, 08 Oct 2024 00:00:00 +0530 Thu, 10 Oct 2024 14:58:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759978 CESTAT Bangalore held that duty demand on imports using fraudulently obtained DEPB scrips was valid, even though appellant purchased them from open market believing them to be genuine. The tribunal relied on SC precedent in Munjal Showa Ltd. case establishing that forged DEPB scrips cannot confer exemption benefits. However, penalty under Section 114A of Customs Act was set aside as appellant was unaware of fraudulent nature of the scrips at time of purchase and import. Appeal was allowed partially - duty demand upheld but penalty removed. Case-Laws Customs Tue, 08 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759978