TaxTMI 
TaxTMI 
2008 (2) TMI 93
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....d with the order passed by the Commissioner (Appeals), Revenue has preferred the present appeal. We have heard Shri K.J. Sanchis, learned JDR, appearing for the Revenue and Shri S. Suriyanarayanan, learned Advocate appearing for the respondent. 2. As per the facts on record, the respondent is a 100% EOU, engaged in the manufacture of copper and copper allied products. They proc....
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....U as deemed credit, in as much as the deemed export cannot be treated at par with physical export. 4. On appeal against the above order, the Commissioner (Appeals) allowed the same by following the Larger Bench decision in case of Amitex Silk Mills Vs. CCE Surat-I 2006 (194) ELT 344 (Tri-Delhi), laying down that the deemed export has all the elements of export and should be treated at par ....
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....to "exports". Therefore, the terms of the provision, per se, does not call for exclusion of any exports. Deemed exports have all the elements of exports, inasmuch as they are also against competitive international tendering and payment is in foreign exchange. Therefore, on merits also, there is no justification for not treating deemed exports as exports. Looked at from economic efficiency angle, d....
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....o. No.220/54/96-CX, dt.4.6.96: "2. The matter has been examined by the Board. Cash refund of the unutilised Modvat credit is an incentive given to manufacturers and exporters and non-grant of such claim will affect the competitiveness of the Indian industry in the International market. Accordingly I am directed to say that all such refund claims filed under the provisions of Rule 57F(4) of the Ce....