2018 (8) TMI 1533 - AT - Customs

DEPB License - bonafide purchaser - Held that - As the law is settled and there is no dispute as to the fact that the respondent is bonafide purchaser of DEPB license from open market, we hold that the impugned order is correct and legal and does not suffer from any infirmity - appeal dismissed - decided against Revenue.

Summary

The appeal was filed by the Revenue against an order-in-appeal which held that the respondent, as bonafide purchasers of DEPB license from the open market, is not liable for penalty or duty on imported goods. The decision was based on judgments of the Hon’ble High Court of Punjab and Haryana. The Tribunal upheld the order, stating that the respondent's purchase was legitimate. The appeal was rejected.