TaxTMI 
TaxTMI 
2017 (6) TMI 1010
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.... The fact of the case is that the appellant imported a "Toyota Land Cruiser Parado Car" under EPCG scheme by availing exemption Notification No.49/2000-Cus dated 27/04/2000. The appellants have claimed that they have fulfilled the export obligation by earning foreign convertible currency against overall business of the hotel. DGFT had issued a EODC certificate and customs have cancell....
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....time of import of the car and confiscated the car with an option of redemption on payment of Rs. 3 lakhs. Penalties were also imposed on the appellant, the Managing Partner and the buyer of the car. Being aggrieved by the order-in-original, the appellants filed these appeals. 2. Shri N.D.George, learned Counsel appearing on behalf of the appellants made a preliminary submi....
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....awn on 20/11/2006. On that basis benefit of EPCG cannot be denied. He further submits that DGFT has clarified to the DRI that the earning of foreign exchange from room rent, etc. is acceptable as foreign exchange earning against the import of car used for Hotel business. Therefore, there is no violation of EPCG scheme and notification issued there under. 3. Shri M.K. Mall, Asst.....