2001 (11) TMI 1003

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....sue of cheque by the Government for the amount of the drawback, or by crediting the amount to the bank account of the exporter, is in effect a refund of the monies that had been paid by the exporter towards customs duty. What is refunded is only money. The amounts refunded are not traded and there is no sale of those monies.   3. The utter confusion in the mind of the assessing officer who issued the impugned pre-assessment notice proposing to levy sales tax on the sums aggregating to over two crores received by the petitioner from the Central Board of Customs as duty drawback during the years 1994-95 to 1998-99, is evident from the following paragraph in that notice: "REP licence/exim scrip patterns, trade mark, permission im....

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.... 49,756 31,646 3,30,181 4,95,272 1996-97 56,37,580 11% 6,20,134 ... ... 6,20,134 9,30,201 1997-98 95,52,842 11% 10,50,813 ... ... 10,50,813 15,76,220 1998-99 48,54,444 11% 5,33,989 ... ... 5,33,989 8,00,984 1998-99 1,06,010 11% 11,661 ... ... 11,661 17,492 Quota sales               Total 2,41,09,264   25,33,268 69,334 31,646 26,28,249 39,42,374   Total of Tax, SC/ASC and AST due Rs. 26,28,248 Penalty at 150% due Rs. 39,42,374   Rs. 65,70,622" 4.. The assessing officer has jumped to the conclusion that the amount of d....