2005 (6) TMI 370

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..... R, for the Respondent. [Order]. - The appellants had imported certain inputs under the Duty Exemption Entitlement Certificate Scheme and taken Modvat credit of CVD paid thereon. In terms of the scheme, they utilised the inputs in the manufacture of leather cloth and exported the product in discharge of export obligation under the relevant Notification No. 203/92. Side by side, they also procure .....

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..... he entire dispute was settled between the parties under a statutory scheme. Once the dispute is settled, neither of the parties can stake any claim. The assessee cannot claim refund of any duty or interest, nor can the department recover any duty or interest or levy any penalty. Hence there is no reason to interfere with the impugned order. The appeal is dismissed. (Dictated and pronounced in ope .....

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