2001 (6) TMI 119

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.... On hearing both sides on the application for waiver of pre-deposit of Rs. 9,44,556/- imposed as duty and Rs. 1 lakh as penalty, we find that the issue being small, the appeal itself could be disposed of. We do so after granting the prayer as made. 2. The appellants were transferee holders of value based advance licences. Imports were made by them in February, 1994 in terms of Notification No. ....

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....sferee can import goods under the strength of the licence. The issue whether for the misrepresentation made by the transferer, the extended period could be invoked against the transferee, had come in for consideration in the interim order passed by the Tribunal in the case of M.C. Daver Aromatics P. Ltd. v. Commissioner of Customs, Mumbai [1999 (113) E.L.T. 91 (Tribunal)]. In this order the Tribun....