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TMI BlogInsertion of new section 28AAA.X X X X Extracts X X X X X X X X Extracts X X X X ..... misstatement; or (c) suppression of facts, for the purposes of this Act or the Foreign Trade (Development and Regulation) Act, 1992, Act of 22 of 1992. by such person or his agent or employee and such instrument is utilised under the provisions of this Act or the rules made or notifications issued thereunder, by a person other than the person to whom the instrument was issued, the duty relatab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fits, which may be utilised under the provisions of this Act or the rules made or notifications issued thereunder. Explanation 2.--The provisions of this sub-section shall apply to any utilisation of instrument so obtained by the person referred to in this sub-section on or after the date on which the Finance Bill, 2012 receives the assent of the President, whether or not such instrument is issu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be recovered from him, and after giving that person an opportunity of being heard, and after considering the representation, if any, made by such person, determine the amount of duty or interest or both to be recovered from such person, not being in excess of the amount specified in the notice, and pass order to recover the amount of duty or interest or both and the person to whom the instrument ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssued under the Foreign Trade (Development and Regulation) Act, 1992 where the instrument was obtained by means of collusion or wilful misstatement or suppression of facts made by the person to whom it was issued or his agent or employee, and was utilised by another person who acquired it from the original holder, then the duties, relatable to the utilisation, shall be recovered from the person to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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