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7. That apart, Export and Import Policy, 2009-2014 formulated by the Central Government in exercise of the powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (for short „FTDR Act‟) also provides for certain exemptions. Chapter 8 specifically provides for "deemed exports" specified therein with reference to those transactions in which though the goods supplied do not leave the country, supplies made to the projects specified therein are treated equivalent to exports granting certain fiscal benefits. As per Paragraph 8.2(g) of the Foreign Trade Policy (FTP), the supply of goods to power projects and refineries under procedure for International Competitive Bidding are qualified as "deemed export". Paragraph 8.3 of FTP provides for various benefits available to the deemed exports including exemption from Terminal Excise Duty (TED) where supplies are made against International Competitive Bidding (ICB) vide Clause (c) of Paragraph 8.3. It also provides for refund of terminal excise duty in other cases. For ready reference, Paragraph 8.3(c) of the Foreign Trade Policy may be reproduced hereunder:

12. Pointing out that the writ petitioner had paid the excise duty through CENVAT Credit Account, the learned ASG vehemently contended that the refund sought to be claimed by the petitioner under FTP is to circumvent the provisions of CENVAT Credit Rules, 2004. He also submitted that refund of CENVAT Credit is not permissible for "deemed exports" under FTP since "deemed exports" do not come within the definition of exports under CENVAT Credit Rules.