1999 (2) TMI 262 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai ruled in favor of the importers in a case involving duty-free imports under a transferable license. The Customs authorities initially denied duty-free import, claiming the original holder was ineligible due to Modvat credit. The Collector (Appeals) later found no evidence of suppression and allowed duty-free imports. The Tribunal upheld the Collector's decision, citing a Trade Notice that approved the reversal of Modvat credit and payment of interest to restore license qualifications. The appeal by the revenue was dismissed.