2017 (10) TMI 1269

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....acts of the case are that, during the period under consideration, the assessee-Appellants were enjoying the double benefit for the export promotion of the goods known as 'Status Holder Incentive Scrips (SHIS)' and 'Zero Duty Export Promotion Capital Goods (EPCG)' Licences. The assessee-Appellants have utilized the eight SHIS scrips issued in Financial Year 2013-14 for the purpose of import of goods by debiting customs duty from the said licences and availed duty benefit for an amount of Rs. 3,68,70,593/- and at the same time they also utilized twenty three Zero Duty EPCG licences issued in their favour in the same fiscal year. On the basis of information received by the DRI, show cause notices were issued on 01.06.2016. It is the claim of t....

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....ular is binding on the Department. To conclude his arguments, the learned counsel submits that the benefit availed under SHIS Scheme has already been surrendered by the assessee-Appellants, hence there is no question to demand duty or penalty. Lastly, he made a request to set aside the impugned order. 5. On the other hand, the learned DR for the Revenue supported the impugned order. He submits that only after issuance of the show cause notice by the DRI, the assessee-Appellants had awaken and deposited the money, but without interest. The learned DR drawn our attention to para 5.4.7 of the impugned order wherein it is categorically mentioned that the interpretation of contentious availment of SHIS and EPCG authorization specified in the Pu....