https://www.taxtmi.com/caselaws?id=790823 A validly issued MEIS scrip remained effective for imports made during its currency, so a later reduction of the benefit from 3% to 2% or subsequent cancellation could not retrospectively deprive the importer of the concession already availed. The Tribunal applied the principle that a licence or scrip obtained by fraud is voidable, not void ab initio, and that later cancellation does not affect imports completed on the strength of a valid scrip. It further held that use by the original holder or a transferee made no difference, and the alleged misclassification was not relevant to the appeal. The duty demand, interest and penalty were unsustainable. en-us Mon, 27 Apr 2026 00:00:00 +0530 Fri, 01 May 2026 10:14:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790823 A validly issued MEIS scrip remained effective for imports made during its currency, so a later reduction of the benefit from 3% to 2% or subsequent cancellation could not retrospectively deprive the importer of the concession already availed. The Tribunal applied the principle that a licence or scrip obtained by fraud is voidable, not void ab initio, and that later cancellation does not affect imports completed on the strength of a valid scrip. It further held that use by the original holder or a transferee made no difference, and the alleged misclassification was not relevant to the appeal. The duty demand, interest and penalty were unsustainable. Case-Laws Customs Mon, 27 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790823