https://www.taxtmi.com/caselaws?id=101860 Where an existing unit withdrew its option to shift to a revised value addition formula under the Export and Import Policy, it remained governed by the earlier formula until the revised approval became operative. The Bombay HC noted that the Development Commissioner was in applying the formula applicable to each period, including quarterly computation of indigenous raw material consumption, for the interval before the revised approval took effect. On that basis, recalculation of Domestic Tariff Area sale entitlement on the old formula was upheld, and the challenge to the revised formula being applied retrospectively was rejected. en-us Wed, 31 Oct 2001 00:00:00 +0530 Sat, 11 Feb 2012 13:33:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101860 Where an existing unit withdrew its option to shift to a revised value addition formula under the Export and Import Policy, it remained governed by the earlier formula until the revised approval became operative. The Bombay HC noted that the Development Commissioner was in applying the formula applicable to each period, including quarterly computation of indigenous raw material consumption, for the interval before the revised approval took effect. On that basis, recalculation of Domestic Tariff Area sale entitlement on the old formula was upheld, and the challenge to the revised formula being applied retrospectively was rejected. Case-Laws Customs Wed, 31 Oct 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101860