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2009 (4) TMI 884 - ORISSA HIGH COURTRefund application rejected - whether the purchase made by the petitioner from M/s. Tata Iron and Steel Company Ltd. on payment of tax cannot be treated as sale in the course of export and as such it is not exempted from tax? Held that:- n the facts of the present case, it is clear that while M/s. Rajarishi Exports Ltd., may have purchased the chrome ore for meeting its export obligation to its foreign buyer, the same is not an export transaction and therefore the said transaction, cannot be treated as a transaction exempted rom tax under section 5 of the CST Act, as it then was. It is also important to note here that, sub-section (3) of section 5 of the CST Act covering a penultimate transaction prior to export, came to the statute book by way of amendment with effect from April 1, 1976, while the transaction on the basis of which refund is claimed is for the transactions effected for the period from December 31, 1972 to March 31, 1973, 1973-74 and 1974-75. Therefore clearly since the period of such transaction being prior to the insertion of sub-section (3) of section 5 of the CST Act, neither benefit thereunder can be claimed nor granted to the petitioner since the amendment was not retrospective but prospective in its application. Thus no merit in the claim of the petitioner. Appeal dismissed.
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