Beneficial exemption notification can be claimed later when conditions are met, and refund remains sustainable.

A beneficial exemption notification may be invoked at a later stage if the assessee is otherwise entitled to its benefit, and the authorities must grant the relief when the prescribed conditions are met. The factual findings recorded by the appellate authority showed compliance with the notification requirements, including that the letter of credit was obtained in the buyer's name before export and that the full amount was received in foreign exchange. On that basis, the refund claim was held sustainable and no interference was warranted.

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Issues: Whether the refund claim was sustainable when the assessee invoked the exemption notification at a later stage and whether the conditions of the notification stood satisfied.

Analysis: The notification benefit was held to be available even though it was not claimed at the initial stage, because an assessee is not barred from relying on a beneficial exemption subsequently. The factual findings accepted by the appellate authority showed compliance with the notification conditions, including obtaining the letter of credit in the buyer's name before export and receipt of the full amount in foreign exchange.

Conclusion: The refund claim was rightly allowed and no interference was warranted.

Ratio Decidendi: A beneficial exemption notification may be claimed at a later stage if the assessee is otherwise entitled to it, and the authorities must grant the benefit when the prescribed conditions are met.

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