2001 (6) TMI 146 - AT - Customs

Summary

The Appellate Tribunal CEGAT, Mumbai allowed the appeal after finding the demand for duty and penalty to be barred by limitation. The appellants were transferee holders of value-based advance licenses and were not aware of any contravention committed earlier by the transferors. The Tribunal granted unconditional stay and waiver of predeposit of duty confirmed and penalties imposed.