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TMI Blog2010 (4) TMI 96X X X X Extracts X X X X X X X X Extracts X X X X ..... ning the amount of drawback recovered from the petitioner. We may point out that this is not a case where the exporter is claiming return of the recovered drawback amount on the ground that it has subsequently realized the sale proceeds after the period provided for such sale proceeds had expired. The petitioner has, in fact, made the realization during the extended period. Therefore, it is not a case which would fall under Rule 16A(4), which pertains to cases where the sale proceeds are recovered from the exporters because the sale proceeds have not been received during the permissible period. – return of duty drawback allowed – decided in favor of assessee - 6600/2008 - - - Dated:- 29-4-2010 - Advocates who appeared in this case:- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wback amount to the respondents. The amount of duty drawback, at that point of time, was Rs 14,58,368/-. The petitioner was also required to pay an amount of Rs 7,57,135/- being interest on the said amount of duty drawback paid back to the respondents. The said interest was calculated at the rate of 24% per annum. In other words, the petitioner paid an amount of Rs 22,15,503/- on or about 16.06.1999. 3. Thereafter, the petitioner received an ex-post facto extension from the Reserve Bank of India on 25.01.2001 extending the dates for realizing the sale proceeds. In the meanwhile, the petitioner had already realized the sale proceeds sometime in August to October, 2000. Thereafter, the petitioner made a request for refund of the duty drawba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom the Reserve Bank of India, the Assistant Commissioner of Customs shall cause notice to be issued to the exporter for production of evidence of realisation of export proceeds within a period of thirty days from the date of receipt of such notice and where the exporter does not produce such evidence within the said period of thirty days, the Assistant Commissioner of Customs shall pass an order to recover the amount of drawback paid to the claimant and the exporter shall repay the amount so demanded within sixty days of the receipt of the said order: Provided that where a part of the sale proceeds has been realised, the amount of drawback to be recovered shall be the amount equal to that portion of the amount of drawback paid which be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been recovered from the petitioner along with interest thereon despite the petitioner having subsequently obtained the ex-post facto extension, the petitioner was entitled to refund of the said drawback amount plus interest as well as interest on the entire amount paid by the petitioner on 16.06.1999. 6. The learned counsel for the respondents submitted that Rule 16A (4) did not permit the repayment of the duty drawback to the petitioner inasmuch as the petitioner had not realized the sale proceeds nor had he produced the evidence of such realization within one year from the date of recovery of the amount of drawback, namely, 16.06.1999. It was submitted that the realizations were admittedly between August and October, 2000 and that wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns to cases where the sale proceeds are recovered from the exporters because the sale proceeds have not been received during the permissible period. 8. Consequently, the impugned order is set aside. The respondents are directed to return the amount of Rs 22,15,503/-, which was recovered from the petitioner on 16.06.1999. We also feel that the petitioner is entitled to interest on such amount. Consequently, we direct that the said amount of Rs 22,15,503/- be returned to the petitioner along with interest at the rate of 6% per annum w.e.f 25.01.2001, which is the date on which the Reserve Bank of India gave ex-post facto extension for making the realization. The writ petition stands allowed to the aforesaid extent. There shall be no o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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