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2017 (7) TMI 627 - AT - CustomsPenalty u/s 112 of CA - invalid DFRC licences - Held that: - there is no dispute as to the fact that when the appellant purchased DFRC licence from M/s Ria Impex Pvt. Ltd., those licence were transferrable as per the endorsement of DGFT authorities. The appellant in bonafide belief that these licences are validly procured licences resold them in the market. The provisions of Section 112 of the Customs Act, 1962 would apply in any case, if the appellant has played any role in the import of the goods which were liable for confiscation - the appellant having played no role in export of the goods a fraudulent DFRC licence was procured by M/s Ria Impex Pvt. Ltd., and had no role in importing the goods under transferred DFRC licences cannot be visited with penalty u/s 112 of the CA, 1962. Appeal allowed - decided in favor of appellant.
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