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2013 (10) TMI 242 - CESTAT MUMBAIExtended period of limitation - Benefit of notification - disposal of goods imported against Duty Free Import Authorizations Licence (DFIA) - Held that:- Notification 40/2006 does not impose any condition on the licence holder that without the permission from the licensing authority the applicants shall not dispose of the goods after discharging the export obligation. Further, we find that it is not in dispute that the applicants have not discharged the export obligation on 18.04.2008 and it is also not in dispute that the goods have been sold by the applicants in open market after discharging the export obligation. Therefore, prima facie the applicants have fulfilled the condition of Notification No.40/2006. We further find that the bond executed by the applicants against duty free import licence has been cancelled by the Customs authorities in 2010 itself. Therefore, extended period of limitation is not invokable in the facts of the case - stay granted.
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