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2017 (8) TMI 1042 - CESTAT MUMBAIValuation - clearance of ‘polyester staple fibre’ to some customers who were in possession of import licences for inputs that had been invalidated as a condition for such procurement - Held that: - It would appear that the buyers of the respondent in the impugned transactions had been issued with licences for import of raw materials for use in the manufacture of export products, and instead of procuring from abroad, opted to source them from respondent. Needless to say, the licence, being rendered superfluous, was liable to be invalidated and the privilege of duty-free import by the licence holder no longer available. There is no evidence to arrive at the conclusion that respondent was a beneficiary in consequence of invalidation or was eligible for any incentives prescribed in the Foreign Trade Policy. Appeal dismissed - decided against appellant.
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