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of CESTAT allowed the appeal and set aside the impugned adjudicatory order. The Tribunal held that the exemption notification does not impose a condition that exported jewellery must be manufactured exclusively from imported gold; the show cause notice and adjudication erred by importing instructions from a CBEC circular into the notification. The Tribunal noted the FTP permits duty-free procurement of gold either in advance or as replenishment and that a Board circular constitutes administrative instruction to officers, not a legislative condition. Consequently the demand of duty, interest and penalties premised on the misconceived reading of the circular was unsustainable and was quashed.
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