2003 (9) TMI 490 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Mumbai upheld the Commissioner's decision to drop proceedings against the assessee. The Commissioner allowed proforma credit to be treated as Modvat credit based on CBEC Circular No. 267/69/95-CX.8. The Tribunal dismissed the Revenue's appeal, stating that the Commissioner followed board instructions correctly.