Once application for SEZ LOP is accepted, unit attains SEZ status and entitled for exemption u/s 26 of SEZ Act

Renaissance Global Limited Vs Union of India (Bombay High Court) Bombay High Court held that once the application for SEZ LOP is accepted and LOP is issued, the Unit attains the SEZ Status and therefore entitled to all the exemptions provided under section 26 of the SEZ Act which also includes exemption from payment of duties of customs. Facts- It is petitioner’s case that it has been importing jewellery for remaking, which is subsequently melted, and the precious metal derived therefrom is used for the manufacture of fresh pieces of jewellery. During the period April 2005 to May 2009, an ag...