COMMNR. OF CUSTOMS(PREVENTIVE) vs M/S. AAFLOAT TEXTILES (I) P.LTD.&ORS.

The Supreme Court upheld the order of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) regarding the duty demand of Rs.6,69,40,149 on gold and silver imports by M/s Aafloat Textiles (India) Ltd. under Section 28 and Section 28AB of the Customs Act, 1962. The court confirmed the denial of exemption under Notification No.117/94-Cus and the imposition of penalties under Section 114A, while noting that the Special Import License used was forged, thus invalidating the import. The court held that the appeal could be dismissed on grounds of limitation without delving into the merits of the case.