2011 (12) TMI 708

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..... ellate Tribunal, South Zonal Bench, Bangalore (for short, 'the Tribunal'). 2. The appeal involves the interpretation of Notification No. 126/94, dated 3-6-1994. 3. The assessee had imported capital goods and also raw material for the manufacture and export of cut flowers for a period of five years. The assessee which is a 100% export oriented unit made exports for four years, i.e., fro .....

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..... (b)(i) of the notification, which reads as follows : (3) The importer at the time of import or procurement of said goods executes a bond in such form and for such sum as may be prescribed by the Assistant Commissioner of Customs or Deputy Commissioner of Customs binding himself :- (a) … … … (b) to fulfil the Export obligation and comply with the conditions stipulated i .....

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..... g them as above within the said period allow;" 7. With regard to the duty on consumables etc., the relevant clause that is applicable is clause 3(b)(iv). This requires the exporter to achieve Net Foreign Exchange Earning as a Percentage of Exports (NFEP) and Export Performance. Insofar as this is concerned, the Tribunal seems to have only adverted to it without any discussion on the applicab .....

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