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TMI Blog2023 (12) TMI 84X X X X Extracts X X X X X X X X Extracts X X X X ..... ion as they were under an impression that they were required to fulfill the export obligation within a period of 6 years - But, as and when investigation started the respondent immediately paid duty and interest. Further, as per the condition of the Notification, the appellant is required to pay duty along with interest. In that circumstances, the adjudicating authority has rightly refrained from imposing redemption fine and penalty on the respondent. As the respondent has complied with the condition of the Notification, therefore, there are no infirmity in the impugned order. Appeal filed by Revenue dismissed. - HON BLE SHRI ASHOK JINDAL , MEMBER ( JUDICIAL ) And HON BLE SHRI RAJEEV TANDON , MEMBER ( TECHNICAL ) Shri A. K. Ch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... US $ 1,442,091.33 i.e. 6 times the duty saved of Capital goods on FOB Basis within a period of 6 years. The export obligation shall be fulfilled by the use of the imported capital goods. v) The authorization holder is also required to maintain its average of the past three years export performance of the same and similar products. vi) Authorization holder shall submit statement of export within three months from the expiry of block year duly certified by a chartered Accountant and concerned bank to the Regional Authority. He shall also submit yearly performance of export to the RA by 30th April of every year. 3. Para 5.8 of the Hand Book of Procedures (2009-14) Volume-I, has stipulated that License under the Zero duty EPCG scheme s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ustoms Notification No.102/2009 dated 11.09.2009 as amended from time to time. The condition No.6 of the Notification No.102/2009-Cus dated 11.09.2009, as amended, provides that the importer executes a bond in such form and for such sum and with such surety or security as may be specified by the Dy/Asstt.Commissioner of Customs binding himself to comply with all the conditions of this notification as well as to fulfill export obligation on Free on Board (FOB) basis equivalent to six times the duty saved on the goods imported as may be specified on the authorization, or for such higher sum as may be fixed or endorsed by the Licensing Authority or Regional Authority in terms of Para 5.10 of Handbook Procedures Vol I, issued under Para 2.4 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the condition No.6 of the Notification, therefore, DRI investigated the case and on pointing out by the DRI the respondent paid the duty payable along with interest. But, the proceedings were initiated against the respondent by issuance of the show cause notice to impose redemption fine and penalty along with demand of duty and interest. The matter was adjudicated. The adjudicating authority after recording the fact that on pointing out, the respondent paid duty and interest and refrained from imposing redemption fine and penalty on the respondent. Against the said order, revenue is before us. 8. The Ld.AR appearing on behalf of the revenue submits that as the appellant violated the condition of the Notification, therefore, redemption ..... X X X X Extracts X X X X X X X X Extracts X X X X
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