https://www.taxtmi.com/caselaws?id=768206 CESTAT Bangalore ruled on duty liability arising from fraudulent DEPB scrips where exporter mis-declared restricted 'Potassium Chloride' as 'Industrial Salt' without valid licence, violating Customs Act Section 11 and Foreign Trade Act 1992. Following SC precedent in Munjal Showa Ltd., tribunal upheld duty demands and interest for extended period against importers who purchased fraudulent scrips, as fraud vitiates everything making scrips void ab initio. However, penalties were set aside since appellants were unaware of fraud when purchasing scrips. Appeal allowed in part. en-us Wed, 02 Apr 2025 00:00:00 +0530 Wed, 02 Apr 2025 18:22:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768206 CESTAT Bangalore ruled on duty liability arising from fraudulent DEPB scrips where exporter mis-declared restricted 'Potassium Chloride' as 'Industrial Salt' without valid licence, violating Customs Act Section 11 and Foreign Trade Act 1992. Following SC precedent in Munjal Showa Ltd., tribunal upheld duty demands and interest for extended period against importers who purchased fraudulent scrips, as fraud vitiates everything making scrips void ab initio. However, penalties were set aside since appellants were unaware of fraud when purchasing scrips. Appeal allowed in part. Case-Laws Customs Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768206