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2012 (8) TMI 175 - HC - CustomsBenefit of Duty Free Import Authorization (DFAI) - Revenue stated that on obtaining DFIA the assessee has availed the credit even if the credit is reversed or paid back along with interest after clearance of the goods - Held that:- As decided in Commissioner of Central Excise, Mumbai- I Versus M/s Bombay Dyeing & Mfg. Co.Ltd [2007 (8) TMI 2 - SUPREME COURT] the Cenvat credit taken if reversed before its utilisation, it amounts to not taking the credit - in the case of DFIA if the credit availed on inputs used in the manufacture of final products is reversed before it is utilised either by reversing the credit or by cash payment with interest, then, it should be treated that the assessee has not availed the credit and accordingly, the benefits under para 4.2.6 of the Foreign Trade Policy 2009-2014 cannot be denied while transferring the DFIA.
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