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2008 (8) TMI 81 - CESTAT AHMEDABADAppellants had obtained an EPCG licence for the import of Air Jet Looms and executed a bond and bank guarantee as required - Non-fulfillment of the export obligation - Since the export obligation undertaken to be fulfilled at the time of importation of the goods under EPCG scheme has not been fulfilled at all, demand of duty, imposition of interest, confiscation of goods, imposition of penalty & redemption fine, is totally justified
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