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M/s Parasrampuria Synthetics Ltd. Versus Commnr. Of Customs, Jaipur

2015 (11) TMI 439 - SUPREME COURT

Benefit of Notification No. 160/92-CUS dated 20.04.1992 - third party export - Extension of time for fulfillment of obligations of Notifications - Non furnishing of Bank guarantee - Held that:- Certain exports made by the third party in terms of said .....

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of by the Tribunal in the impugned judgment that the exports which were purportedly shown did not bear any such EPCG licence and, therefore, rightly rejected the contention of the assessee even on this aspect. - No error in the main order of the Trib .....

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- Dated:- 13-10-2015 - Mr. A.K. Sikri And Mr. Rohinton Fali Nariman, JJ For the Petitioner : Mr. Amar Dave, Adv., Mr. Satendra Kumar, Adv., Mr. Mahesh Agarwal, Adv., Mr. Ankur Saigal, Adv. & Mr. E. C. Agrawala,Adv. For the Respondent : Mr. Yasha .....

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mported capital goods under EPCG Scheme and obtained the benefit of Notification No. 160/92-CUS dated 20.04.1992. On the basis of the said Notification, the assessee did not pay any import duty on the aforesaid imported goods but furnished a bond/und .....

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f 80% within the said five years period which was provided for fulfilling the said export obligations. He could not fulfill the remaining obligations. There were certain circulars of the Department which provided extension of time for fulfilling such .....

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n 60 days from the date of the said circulars/public notice. The assessee applied for extension but without furnishing any bank guarantee as required, along with letter of request for extension. For this reason, the extension was not given to the ass .....

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nsideration, then the assessee has fulfilled the export obligations. However, the assessee could not satisfactorily explain as to whether there was any export made by the aforesaid two divisions within the original period of five years i.e. upto 1.4. .....

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.5(ii) of the Export and Import Policy, the export by a third party could be allowed. On that basis, certain exports made by the third party in terms of said para were sought to be included by the assessee in order to show that it had fulfilled the e .....

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