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2011 (6) TMI 446 - AT - CustomsPenalty - DEPB Scrip obtained by fraud - whether the duty forgone on imports made by the Appellant using the said fraudulent DEPB scrip can be demanded and recovered from the Appellant - whether extended period can be invoked - assessee contended that he purchased DEPB scrip in good faith against payment of consideration and utilized it under the bonafide belief that the license did not have any blemish - Held that:- In such situations it is not proper to impose penalty on the transferee who imported the goods. See Friends Trading Co.(2008 (10) TMI 344 - PUNJAB & HARYANA HIGH COURT), The Mall Amritsar V. M/s Parkar Industries Jalandhar (2006 - TMI - 1089 - HIGH COURT, PUNJAB & HARYANA - Customs) Appeals are rejected.
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