https://www.taxtmi.com/caselaws?id=191522 Eligibility for extension of export obligation under the EPCG scheme turns on when industrial sickness actually arose, not mechanically on the date of BIFR registration. The court noted that the petitioner's balance sheet showed accumulated losses before the cut-off date, so the authority had to examine the financial records and assess whether the Exim Policy could be applied on the facts. Because that inquiry was not properly undertaken, the rejection order could not stand on the reasoning adopted. The matter was remanded for fresh consideration after giving the petitioner an opportunity to produce supporting documents and be heard. en-us Wed, 23 Jan 2013 00:00:00 +0530 Thu, 06 Apr 2017 12:07:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191522 Eligibility for extension of export obligation under the EPCG scheme turns on when industrial sickness actually arose, not mechanically on the date of BIFR registration. The court noted that the petitioner's balance sheet showed accumulated losses before the cut-off date, so the authority had to examine the financial records and assess whether the Exim Policy could be applied on the facts. Because that inquiry was not properly undertaken, the rejection order could not stand on the reasoning adopted. The matter was remanded for fresh consideration after giving the petitioner an opportunity to produce supporting documents and be heard. Case-Laws Customs Wed, 23 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191522