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2017 (4) TMI 19 - AT - CustomsDuty exemption scrips - appellants claimed to have been legally purchased but which, nevertheless, are established as having been obtained by the transferors through fraud - Held that: - Propriety demands that contrarian views having been placed on record, we must take recourse to time-tested institutional mechanism to resolve the predicament. In our view, a uniform and consistent approach is mandated even though instinctive sympathies, as human beings, may lie with an innocent party in a business transaction of sale and purchase; but even conscious that, since the dawn of commercial engagement, the doctrine of caveat emptor must stand to handicap a buyer in transactions if chaos and mayhem are not to prevail. That uniformity and consistency can be consummated only with a resolution that brooks no contrarian view. A larger bench alone can settle the issue - matter referred to larger bench.
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