TaxTMI 
TaxTMI 
1985 (3) TMI 78
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....dge, Pendse, J. in Writ Petition No. 1465 of 1984 making rule absolute in terms of prayer clause (b) of the petition. 2. The respondents in this appeal constitute a partnership firm and carry on business of exporting diamonds. The respondents are also a recognised export house within the meaning of the relevant import policies. 3. It is common ground that the respondents firm under the relevant ....
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....nce the respondents had fulfilled the export obligation and in view of the redemption certificate dated 9-3-1984, on 8-6-1984 they applied for revalidation of the said application on three grounds; (1) Imprest licence is not valid; (2) No balance value available in the Customs copy of the licence, and (3) there is no provision to endorse the imprest licence for OGL items in AM 85 policy Book. Afte....
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....ny reliefs. This argument does not appeal to us for the simple reason that the respondents under the said licence had carried out the import and export obligation and pursuant thereto the respondents were granted redemption certificate by the Controller of Imports and Exports on 9-3-1984. It is not disputed that the said certificate was in accordance with the policy as then existed and if it is so....
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....e course of arguments, Shri Dalal was unable to point out any provision which forbids grant of such revalidation under the new policy. All that he contended was that there is no provision in the existing policy i.e. for the year 1984-85 and, therefore, the revalidation cannot be granted. We do not see any substance in this contention also. 7. It was next urged by Shri Dalal that in view of the pr....