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2021 (9) TMI 1134 - AT - CustomsContinuance of proceedings under Customs after initiation of CIRP under IBC - appointment of Resolution Professional under Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The crux of the issue, as submitted by the Learned Counsel, is that even though the moratorium was imposed, it was on the claims by creditors and it was not applicable to the instant case which does not deal with any demand against the appellant but involves, on the contrary, a claim by the appellant themselves. On perusal of the order of NCLT, it is found that, either way, the proceedings can be continued. We also find that the second request of the appellant for change of address can also be incorporated in the cause title. Accordingly, Miscellaneous Applications filed by appellants can be allowed. The Miscellaneous applications stand accordingly disposed off. Claim of benefit of exemption - re-imported air craft engines and parts thereof which were exported for the purposes of repairs/ reconditioning etc. - HELD THAT:- It is very clear from the preamble of the notification that whole of additional duty, integrated tax, compensation cess leviable thereon respectively under sub-sections (1), (3), (5), (7) and (9) of Section 3 of Customs Tariff Act, are wholly exempt - It is very clear that additional duty, integrated tax, compensation cess are exempted and customs duty would be limited to be taxed on the value of the fair cost of repairs carried out including cost of materials used in repairs, insurance and freight charges. The appeal is allowed.
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