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2017 (12) TMI 905 - HC - CustomsCENVAT credit of CVD availed by debiting and adjusting in DEPB account - denial on the ground that in terms of EXIM policy 20022007 and in particular para 4.3.5 thereof where additional customs duty was adjusted from DEPB, no benefit of CENVAT or draw back would be available - Held that: - as per the SCN, the petitioner had wrongly availed the CENVAT credit. This provision was made in the earlier Foreign Trade Policy of 200207. However later in the new policy, by virtue of amendment in the policy, such benefit was made available again. Circular dated 21.10.2004, of course, provided that such benefit would be available with respect to licenses issued under the new policy - whether in case of the petitioner, all the licenses were issued under the new policy or not is a question of fact, which requires examination - matter placed on remand for re-examination - petition allowed by way of remand.
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