2015 (11) TMI 1026

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....the Court was delivered by V. Ramasubramanian, J. ) This appeal is by the assessee under section 130 of the Customs Act, 1962. 2. Heard Mr.K.Ravi , learned counsel for the appellant and Mr.T.Chandrasekaran , learned Standing Counsel for the Revenue. 3. On 9.12.1994, the appellant filed an application with the Director General of Foreign Trade, for the grant of licence known as EPCG licence, so ....

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....of condition No.6 contained in annexure A to the licence dated 17.5.1995 which reads as follows:- "This licence shall be deemed to be valid for the goods already shipped/arrived provided the goods have not already been cleared from the Customs and Customs Duty has not been paid." 6. The original authority, the first appellate authority as well as the Tribunal relied on condition No.6 and uphel....

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....ate of issue of licence. 8. By stipulating in condition No.6, that the validity of the licence commenced even from the date on which the goods had been shipped or goods had arrived, the Director General of Foreign Trade had actually extended the benefit to the assessee. To put it differently, the assessee was entitled, even as per condition No.6 of annexure A of the licence, to place an order, to....