2009 (5) TMI 629

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..... espondent. [Order per : D.N. Panda, Member (J)]. Ld. Counsel Shri Jagmohan submits that the demand is barred by limitation. Period of LOP has expired in 2003. He submits that because of the financial crisis the appellant could not make export and failed to fulfil such obligation. For a short period when manufacture was done export was also done. Thereafter when the bank did not finance w .....

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..... of the imported machinery and goods. He also submits that for a period six months, manufacturing activity was carried out and thereafter the unit, became defunct. Even learned Development Commissioner who examined the issue of violation of requirement of import has cancelled the LOP on 10-1-08. Physical verification and inspection to the premises of the Appellant resulted with no stock in the fact .....

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..... achinery is in the custody of the bank and Revenue can have negotiation with that bank. We are not satisfied with such an answer when already lien of bank exists on the plant and machinery. At the prima facie stage, we are satisfied that the Custom authorities are notified to be Excise authorities also for the effective implementation of both the laws. However, this aspect shall be gone into detai .....

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