The Ahmedabad bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that penalty under Customs Act,1962 is not imposable when fabricated DEPBS scrip purchased on bonafide belief. Shree Fats And Proteins Pvt Limited, the appellant have a grievance as purchaser of DEPB scrips from the open market on the bonafide belief….
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