https://www.taxtmi.com/caselaws?id=42271 A customs house agent's licence revocation for alleged failure to account for funds and misappropriation was held unsustainable because the accounting obligation arose from the contractual arrangement with the foreign supplier, not the Indian purchaser. On the facts, the funds routed through the Indian purchaser were meant to discharge that contractual obligation, so Regulation 14(g) could not be applied to treat the agent as owing a direct accounting duty to the purchaser. The allegation of misappropriation was therefore unsupported, and disciplinary action under Regulation 21(c) could not stand. The revocation order was set aside. en-us Fri, 03 Apr 1987 00:00:00 +0530 Thu, 10 Jun 2010 11:55:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=42271 A customs house agent's licence revocation for alleged failure to account for funds and misappropriation was held unsustainable because the accounting obligation arose from the contractual arrangement with the foreign supplier, not the Indian purchaser. On the facts, the funds routed through the Indian purchaser were meant to discharge that contractual obligation, so Regulation 14(g) could not be applied to treat the agent as owing a direct accounting duty to the purchaser. The allegation of misappropriation was therefore unsupported, and disciplinary action under Regulation 21(c) could not stand. The revocation order was set aside. Case-Laws Customs Fri, 03 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=42271