9911796707
TMI Blog1996 (11) TMI 236X X X X Extracts X X X X X X X X Extracts X X X X ..... mstances of the case, the Order of the Tribunal is correct in law? (2) Whether in the facts and circumstances of the case, the Appellate Tribunal is correct in denying money credit on Ethyl Alcohol on proportionate basis used in the manufacture of specified final products to the extent of quantity with Solvent 75 and Paraldehyde cleared? (3) Whether the Appellate Tribunal is correct in denying money credit on the Ethyl Alcohol when Solvent 75 and Paraldehyde emerging in the process after such Ethyl Alcohol is used in the manufacture of the specified final product? (4) Whether in the facts and circumstances of the case, Solvent 75 can be treated as finished excisable goods merely for the reason that the composition of Solvent 75 has be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ney credit in terms of Notification 231/87, dated 1-10-1987 issued under Rule 57K of Central Excise Rules, 1944 (Rules, for short) whereby money credit of money at the rate of Rs. 258/- per kilo litre was admissible for the use of indigenous Ethyl Alcohol in the manufacture of various final products specified in the Schedule thereto. The specified products included Acetaldehyde and Butanol which are manufactured by the appellants. They cleared certain quantities of two other products called Solvent 75 and Paraldehyde along with the products mentioned above. The money credit taken on Ethyl Alcohol held to have been used in the manufacture of the two products, Solvent 75 and Paraldehyde which were not included in the schedule to the Notificat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s contained from the input material received by them, namely, Ethyl Alcohol. It was contended that as Acetaldehyde is one of the products specified in Notification 231/87, dated 1-10-1987, once Acetaldehyde is produced by them, compliance with the Notification is complete. The subsequent conversion of Acetaldehyde into Paraldehyde will not affect the issue even if that product is not specified in the Notification. 5. The Tribunal decision which has given rise to the present Reference Application has referred to and followed the earlier decision whereby the benefit of money credit under Notification 231/87, dated 1-10-1987 was partly disallowed on the ground that the final products Solvent 75 and Paraldehyde are not specified in the Notifi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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