DFCE Duty-Free Import of Gold & Silver Bars Valid: SC Rejects Alleged Circular Trading & Fraud

Commissioner of Customs Vs Adani Enterprises Ltd. (Supreme Court of India) SC Upholds import of gold and silver bars under Duty-Free Imports under DFCE Scheme was valid, rejecting alleged Circular Trading and fraudulent entitlement The Supreme Court of India upheld the validity of duty-free imports of gold and silver bars made under Duty-Free Credit Entitlement (DFCE) licences, affirming that the benefits could not be denied on allegations of circular trading or fraudulent entitlement in the absence of concrete evidence. The Court endorsed the findings of the appellate tribunal that substantia...