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TMI Blog1998 (10) TMI 211X X X X Extracts X X X X X X X X Extracts X X X X ..... K. Agrawal, Member (T)]. These two appeals are preferred by the Revenue against the order-in-appeal dated 24-2-1994 and 28-2-1994 involving the issue regarding availment of benefit of Notification No. 175/86 as amended by Notification No. 55/92 and No. 67/92. Both the Appeals are disposed of by one common order. 2. The Ld. SDR submitted that though both the Respondents M/s. Khanna Industri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to avail of the benefit of Notification No. 175/86 on strength of this, irrespective of value of clearance. The ld. SDRs submitted that the value of clearances in the preceding financial year had exceeded Rs. 7.5 lakhs in respect of both the respondents and they were not eligible for the benefit of the Notification during the period 1-4-1992 to 24-2-1992 in view of amendment made by Notification ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clause (a) to first proviso of Para 4 of Notification No. 175/86. 4.2 We have considered the submissions of the Revenue and perused the records and Cross Objection filed by M/s. Khanna Petrochem Industries. The Notification No. 55/92 which substituted the second proviso in Para 4 of the Notification No. 175/86 reads as under : Provided further that nothing contained in clause (b) of the first ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5-1992 by virtue of amendment made by Notification No. 55/92. The benefit of clause (b) was restored by Notification No. 67/92, dated 22-5-1992 only with effect from 22-5-1992 and not for the period prior to that date. In view of the specific mention in the notification, there is no reason to give retrospective effect to the amendment caused by Notification No. 67/92. In view of these facts and ci ..... X X X X Extracts X X X X X X X X Extracts X X X X
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