https://www.taxtmi.com/caselaws?id=458289 CESTAT Kolkata held that appellants who purchased DFIA licenses as bona fide transferees could not be denied duty-free import benefits despite original license holder's fraudulent activities. The tribunal distinguished between void ab-initio forged licenses and voidable licenses obtained fraudulently, ruling that valid transferable licenses at time of import remain effective until officially cancelled by licensing authority. Since DFIA licenses were genuine and DGFT-approved for transfer when imports occurred, subsequent suspension could not retrospectively affect duty-free imports. All demands and penalties against appellants were set aside, with appeals allowed. en-us Tue, 04 Jul 2023 00:00:00 +0530 Fri, 18 Oct 2024 11:09:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458289 CESTAT Kolkata held that appellants who purchased DFIA licenses as bona fide transferees could not be denied duty-free import benefits despite original license holder's fraudulent activities. The tribunal distinguished between void ab-initio forged licenses and voidable licenses obtained fraudulently, ruling that valid transferable licenses at time of import remain effective until officially cancelled by licensing authority. Since DFIA licenses were genuine and DGFT-approved for transfer when imports occurred, subsequent suspension could not retrospectively affect duty-free imports. All demands and penalties against appellants were set aside, with appeals allowed. Case-Laws Customs Tue, 04 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458289