2009 (7) TMI 295

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..... s of duty amount in the DEPB passbook, even though no additional duty was actually paid in cash. - We find that the decision relied on by the lower appellate authority is no longer good law in the light of the subsequent decision of the Larger Bench of the Tribunal in Essar Steel Ltd. v. CCE - holding that mere debit in DEPB passbook is not sufficient for eligibility of MODVAT credit availed on th .....

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..... the strength of debits of duty amount in the DEPB passbook, even though no additional duty was actually paid in cash. In doing so he relied on a decision of the Tribunal in the case of Polyhose India Pvt. Ltd. v. CCE - 2003 (152) E.L.T. 361 (T) = 2003 (54) RLT 572. 2. We have heard both sides. We find that the decision relied on by the lower appellate authority is no longer good law in the light .....

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