Home Case Index All Cases Customs Customs + HC Customs - 2009 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2009 (4) TMI 30 - HC - CustomsFraud – benefit of DEPB scrips - It has been categorically found by the Tribunal and the authorities below that although the DEPB scrips were issued on the basis of forged documents and were indeed cancelled by the authorities but the assessee is not at fault. The assessee is not party to the fraud and had purchased the DEPB scrips from the open market in the bonafide belief of its being genuine - Merely because at a later stage, the DEPB has been found to be fabricated and fake the assessee-respondent could not be deprived of the benefits which were legitimately available to them – decision of Division Bench of this court in case of Commissioner of Customs v. Leader Valves Ltd., which has also been upheld by SC, squarely covers the present case
|