2007 (3) TMI 270 - SCH - Central Excise

Cenvat/Modvat - Deemed credit - Tribunal has held that the assessee was entitled to Cenvat credit under the Cenvat Credit Rules as it had paid duty on the yarn in the grey fabrics - Held that - any error in the judgment of the Tribunal. However, the exact quantification of the deemed credit taken by the assessee has not been done by the Tribunal. It is the case of the assessee that the deemed credit taken by it is less than the actual duty paid on the yarn in grey fabrics. We do not find quantification of deemed credit. We do not find quantification of actual duty. There is no finding on quantifications in the decision of the Tribunal. To that extent alone, the matter stands remitted to the adjudicating authority - Decided partly in favour of Revenue.

Summary

The Supreme Court condoned the delay and granted leave in a case regarding Cenvat credit rules. The Tribunal found the assessee entitled to credit but did not quantify the deemed credit or actual duty paid, so the matter was remitted to the adjudicating authority for decision. The Civil Appeal was allowed to that extent.