https://www.taxtmi.com/caselaws?id=50694 A transferee of a transferable advance licence cannot be fastened with extended-period customs demand and penalty merely because the transferor allegedly misdeclared facts. Once the licensing authority endorses transferability, the transferee imports on the strength of that endorsement, and the duty to disclose relevant facts remains with the person who made the misdeclaration. On that reasoning, the extended limitation under section 28 was unavailable against the transferee, and the demand was held barred by limitation and unsustainable. en-us Wed, 20 Jun 2001 00:00:00 +0530 Wed, 25 Aug 2010 13:51:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=50694 A transferee of a transferable advance licence cannot be fastened with extended-period customs demand and penalty merely because the transferor allegedly misdeclared facts. Once the licensing authority endorses transferability, the transferee imports on the strength of that endorsement, and the duty to disclose relevant facts remains with the person who made the misdeclaration. On that reasoning, the extended limitation under section 28 was unavailable against the transferee, and the demand was held barred by limitation and unsustainable. Case-Laws Customs Wed, 20 Jun 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=50694