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2016 (9) TMI 615 - HC - CustomsWhether the Tribunal is justified in holding that “Para 9.9 (a) of the policy provides that unless specifically prohibited in the LOP/LOI, rejects may be sold in the Domestic Tariff Area on the basis of records maintained by the unit and on prior intimation to the Customs Authority” and that “only sale of rejects above 5% of the FOB value of exports shall be counted against DTA sales”, when the facts and law is otherwise? - Held that: - assets of the respondent taken over by financial institution and were sold. The company, presently, existing only on papers. Thus, it is not appropriate to go into the issue raised by the revenue in the present appeal - appeal dismissed. In case the stand taken by the counsel for the respondent is found to be incorrect, the revenue shall be entitled to get the present appeal restored within 3 months.
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