2018 (2) TMI 459 - AT - Central Excise

Entitlement of re-credit - whether the Appellant-Assessee could avail suo motu re-credit of the duty initially paid/reversed in their books of accounts, after a period of time? - Held that - In similar circumstances, a Division Bench of this Tribunal in the case of Ashapura Volclay Ltd and others Vs. C.C. , Jamnagar 2017 (6) TMI 659 - CESTAT - Ahmedabad following the principle laid down by the Larger Bench, disposed of the matter, with the liberty to approach the Tribunal after disposal of the cases pending before the higher forum - appeal disposed off.

Summary

Issues involved:
Whether the Appellant-Assessee could avail suo motu re-credit of duty paid/reversed after a period of time.

Analysis:

The judgment by the Appellate Tribunal CESTAT Ahmedabad, delivered by Dr. D.M. Misra, Member (Judicial), addressed the issue of whether the Appellant-Assessee could avail suo motu re-credit of duty initially paid/reversed in their books of accounts after a certain period. The contention put forth was based on an appeal filed before the Hon’ble Gujarat High Court, which was admitted and pending for final hearing. Both parties agreed that deciding the issue based on a Division Bench judgment would be inappropriate while the matter was pending before the High Court. In a similar scenario, a Division Bench of the Tribunal in a different case followed the principle laid down by the Larger Bench and disposed of the matter, allowing the parties to approach the Tribunal after the higher forum's verdict. Consequently, the present appeals were also disposed of with the liberty for both sides to approach the Tribunal after the High Court's decision in the pending appeal against the Division Bench judgment. It was emphasized that no recovery or refund would be processed during this period, and the appeals were concluded accordingly.