9911796707
TMI Blog2010 (4) TMI 281X X X X Extracts X X X X X X X X Extracts X X X X ..... 17.9.2004, postulate that “an importer shall be entitled to avail the Cenvat credit of additional duty leviable under section 3 of the Act against the amount debited in DEPB. There is no such condition in the indicated notifications that the debits made in DEPB, the licenses issued under the Foreign Trade Policy only would be eligible for credit and the debits made in DEPB issued under the previous policy will not be eligible for credit. It means, the assessee was entitled to claim the benefit in this relevant connection. - Once the Notification has been amended on 17.9.2004 to extend the benefit of availment of credit of CVD debited through DEPB account, in that eventuality, the revenue cannot deny the benefit of Cenvat credit to the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 28.1.2004, the Cenvat credit was admissible to the assessee on the additional duty paid in cash or through debit under the DEPB. According to the assessee, as per Notification No.96 dated 17.9.2004, the importer shall be entitled to avail the Cenvat credit of additional duty leviable under section 3 of the Customs Tariff Act (hereinafter to be referred as "the Act") against the amount debited in DEPB. It will not be out of place to mention here that the assessee has stoutly denied all other allegations contained in the show cause notice (Annexure A1), pleaded that they have legally availed the Cenvat credit and prayed for withdrawal of the said notice. 5. The explanation put forth by the assessee did not find favour and the Adjudica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt appeal. 9. We have heard the learned counsel for the revenue and have gone through the record with his valuable help. 10. The main argument of the learned counsel for the revenue that since the licence in the present case was issued under the previous policy and during that period, the Cenvat credit was not admissible in CVD paid, otherwise than in cash, so, the assessee is not entitled to avail the Cenvat credit, is not only devoid of merit but misplaced as well, because the EXIM Policy amended, vide Notification dated 28.1.2004 and Notification No.96 dated 17.9.2004, postulate that "an importer shall be entitled to avail the Cenvat credit of additional duty leviable under section 3 of the Act against the amount debited in DEPB. There ..... X X X X Extracts X X X X X X X X Extracts X X X X
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