2004 (9) TMI 127

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of the Customs Act, 1962 has been pressed for admission on the grounds that on the facts and in the circumstances of the case the learned CEGAT having found the appellant not liable for any collusion or fraud in the issue of the DEPB scrips, it would not be liable to customs duty and the interest for alleged non-payment of the said duty though the DEPB licences have been held to be forged ones pa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e DEPB licences/scrips. Relying on the decision in United India Insurance Company v. Lehru, (2003) 3 SCC 338, Dr. Pal contends that it is just not possible for the appellant to verify the DEPB licences/scrips which is otherwise saleable, negotiable and available in the market and which the appellant had purchased bona fide for valuable consideration and utilized it for availing of the credit again....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rom the market and avail of the credit out of it. This was so done by the appellant. But ultimately it was found that the said DEPB licences/scrips were forged. These facts are not in dispute as we find from the finding of the learned CEGAT. The only question that has been put forward, on the basis of the finding of the facts without challenging the same, is about the effect of absence of collusio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....r there was collusion or fraud on the part of the appellant in the issue of the DEPB licences/scrips becomes absolutely immaterial and irrelevant since no credit can be derived from a forged DEPB. The credit is made available on the strength of a valid DEPB. If the DEPB is forged, then the same is non est and therefore, there is no valid DEPB. As such no credit can be derived thereunder. In such c....