Commissioner Of Customs ... vs M/S. Hico Enterprises

The Supreme Court upheld the decision of the Customs, Excise & Service Tax Appellate Tribunal (CESTAT) regarding the liability of the transferee of Value Based Advance Licenses (VABAL) under the Customs Act, 1962. The Court clarified that the transferee cannot be compelled to prove fulfillment of export obligations by the original license holder as per Notification No. 203/92-Cus. The appeal was dismissed, affirming that the original licensee bears the responsibility for compliance, not the transferee.