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2013 (1) TMI 641 - HC - CustomsAdvance license - Non-supply of quantity of goods as indicated in the licence - waiver of interest - Held that:- Looking at the Scheme, it is a Quantity/Value Based Duty Exemption Entitlement Certificate and not with reference to quantum of foreign exchange earned. Therefore, so far as this concession, irrespective of earning foreign exchange, shortage of supply of goods would come in the way of appellant and the claim in question cannot be accepted. License ending with No.906 - Held that:- Once the exporter gets the benefit on the import of goods, having earned the benefit, it is not open to say that there is violation of obligation under the licence. Therefore, the Settlement Commission was justified in rejecting both claims. Waiver of interest as contemplated under Section 127(h), either wholly or in part, a benefit can be extended to the licensee in respect of penalty, fine and interest prior to the amendment in accordance with the procedure applicable at the relevant point of time and not in accordance with the existing Section 127(h). So far as payment of 50% of the impugned demand as indicated in the judgment of the learned Single Judge, the time up to 28.02.2013 extended.
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