1995 (11) TMI 227

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....an, Member (T)]. - The revenue have moved this application for granting stay against the Order-in-Appeal passed by the Collector (A) bearing No. 631/95 BCH., dated 11-9-1995. The respondents are the importers of goods against the DEEC licence transferred in their favour issued after obtaining suitable endorsement. The licence is quantity based licence and is governed by Customs Notification No. ....

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.... to Rs. 5,43,256/-. The respondents approached the Collector (Appeals). In the impugned order allowed the appeal of the respondent. 2.  Shri Mondal, ld. SDR pleads that notwithstanding the transfer endorsed by the licensing authority, in the matter of interpretation of Customs Notification, the Customs authorities are entitled to go according to the provisions of the Notification. Condition ....

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....he time of export and may be exports have taken place in the normal course availing Modvat credit. Prima facie, we are unable to accept that when subsequently the Modvat credit is reversed, the benefit of duty free import under transferred licence can be denied. Moreover, provision contained in Condition No. (vi) appears to be to deny double benefit being taken and hence when one benefit is forego....