TMI Blog1997 (6) TMI 209X X X X Extracts X X X X X X X X Extracts X X X X ..... t the time when the impugned order was passed the appellants had already moved Director General Foreign Trade for extension of time for fulfilling the export obligations and had also sought for change of the nomenclature of the export product and the norms in respect of the same. Ultimately, extension of time was granted till April, 1997 and thereafter norms were also modified. However, this modification of the norms was not allowed retrospectively. He has pleaded that the appellants have again approached the DGFT for permitting application of the modified norm for the past period as also for extension of time for meeting the export obligations and as of now he concedes that the export obligation even during the extended period of time has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g concern and last year they had earned a net profit of about 1.25 crores as per the provisional balance sheet. This profit he has pleaded, was after tax and depreciation etc. 3. Shri V. Thyagaraj, the learned SDR for the department has pleaded that he has instructions to say that the appellants even by the extended period allowed by the DGFT have not fulfilled the export obligation. He has pleaded that any change in the norms will have to be shown to be applicable to the previous importations. Regarding the financial position he has urged that the appellants have not been co-operating with the authorities and they have been adopting a dilatory tactics in the matter of other demand made on them. 4. We have considered the pleas made by b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... export goods. This duty becomes otherwise due and the relief in respect of duty on the imported goods is subject to the parameters of the advance licensing scheme. The appellants were required to conform to the norms and the stipulations and various parameters which are provided for under the Scheme, including exports within the period provided, for enjoying the benefit of duty free import of the goods. Previous foreign exchange has also been expended for importing the goods meant for use in export goods. In view of this outflow of the foreign exchange, prima facie, a strict view has to be taken. We find that the appellants are a profit making Organisation and they have made a net profit of Rs. 1.25 crores last year as per the statement mad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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