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TMI Blog2018 (5) TMI 1718X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee who has committed to an export obligation is duty bound to do so, needs to discharge the duty demanded by the department, while allowing the capital goods to be imported duty free for 100% EOU. Upholding that the Adjudicating Authority was correct in confirming the demands of duty foregone on the capital goods, we hold that the duty liability on the capital goods needs to be re-worked out ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant for fulfilment export obligation, following the ratio in the case of Jaswal Neco Ltd. [2015 (8) TMI 243 - SUPREME COURT] we set aside penalty by the Adjudicating Authority. - C/241/2009 - FINAL ORDER No. A/30535/2018- - Dated:- 21-2-2018 - Mr. M. V. Ravindran, Member (Judicial) and Mr. C J Mathew, Member (Technical) Sh. V.J. Sankaram, Advocate for the Appellant. Sh. Arun Kum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he duty foregone by the revenue on such capital goods was ₹ 11,95,902-/. It is on record and undisputed and the said capital goods were installed by the appellant had achieved and export to the tune of ₹ 5.13 lakhs, subsequently due to finance problems and other issues, the unit was closed and could not achieve the export obligation which was committed. Director, STPI was pleased to in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the department, while allowing the capital goods to be imported duty free for 100% EOU. Upholding that the Adjudicating Authority was correct in confirming the demands of duty foregone on the capital goods, we hold that the duty liability on the capital goods needs to be re-worked out as it is undisputed said capital goods were installed in the 100% EOU and they had achieved little export obligati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of redemption fine in lieu of such confiscation is upheld. If due Market conditions and reasons beyond corbies, made it difficult for fulfilment export obligation, penalty need not be imposed is law settled by Apex Court in the case of Jaswal Neco Ltd., 2015 (322) E.L.T. 561 (S.C.). We do find that due to market conditions there was failure on the part of appellant for fulfilment export obligat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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