2001 (5) TMI 545

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....he Respondent. [Order per : Archana Wadhwa, Member (J)]. - Vide the impugned order, the authorities below have rejected the appellants' refund claim of Rs. 46,104/- relating to reversal of Modvat credit consequent upon clearance of C.T.C. Machines for export under Quantity Based Advance Licence (QBAL) Scheme by a Merchant Exporter (M/s. T & I Global Private Ltd.) against two AR-4s dated 29-3....

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....ion No. 204/92-Cus. 2. The appellants' contention is that they were under no obligation to reverse the Modvat credit but reversed the same in order to enable to exporter to avail the benefit of duty free import under Notification 204/92-Cus. Inasmuch as, there was a change in the EXIM Policy with effect from 1-4-1995, they were entitled to refund of credit. 3. On the other hand, th....