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2013 (10) TMI 359 - HC - CustomsGrant of Value based license or quantity based license - Change in policy after filing application for grant of licence - appellants contention that as all the requirements had been satisfied by them long time back, they should be issued only value based licences and not quantity based licences. - Held that:- power to exempt includes the power to modify or withdraw that benefit; and the liability to pay duty under the Customs Act, 1962 arises when the taxable event occurs being subject to payment of duty as prevalent on the date of the entry of the goods. In Kasinka Trading [1994 (10) TMI 64 - SUPREME COURT OF INDIA], it was held that the doctrine of promissory estoppel could not be invoked to question the withdrawal of notification issued under Section 25 of the Customs Act, 1962 when it was done in public interest. Equities have to be balanced and public interest must outweigh individual interest. There is also no contradiction between paras 48 and 66 of the Export and Import Policy during the period the appellants had applied for grant of advance licences. From a reading of paras 48 and 66 of the Export and Import Policy, as in vogue during the period appellants had applied for advance licences, this Court is of the view that respondent was bound to issue advance licences only in accordance with the policy in force on the date of issuance of licences. Reason for long period of 16 years taken for final judicial pronouncement - all parties to litigation as well as all counsel are under a duty to place on record true, complete and correct facts. If material facts like relevant paras of the export and import policy are suppressed, distorted, withheld or not placed either intentionally or unintentionally, the writ courts would find it difficult to dispense justice expeditiously - if correct para 66 of the Export and Import Policy during the period 1992 to 1997 had been brought to the notice of this Court at the earliest, rather than at the stage of final hearing before the Division Bench, the present proceedings would not have lasted for nearly sixteen years - Decided against assessee.
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