1999 (2) TMI 207

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..... the Appellant. Shri A.K. Chatterjee, SDR, for the Respondent. [Order per : Gowri Shankar, Member (T)]. Application is for waiver of deposit of Rs. 5.04 crores approximately and penalty of Rs. 50 lakhs under Rule 173Q. 2. Advocate for the Applicant says that the applicant manufacture in its factory various intermediate products which were exempted from duty under notification 121/9 .....

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..... (v) Polychem Ltd. v. Collector - 1997 (90) E.L.T. 156; (vi) Jagatjit Industries Ltd. v. Collector - 1998 (99) E.L.T. 509. 3. He contends that the Collector s reliance on the observation of the Supreme Court in Kailashnath v. State of U.P. - AIR 1957 SC 790, to the effect that an exemption notification is to be read as part of the statute had already been considered by the bench of the Tribuna .....

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..... under Rule 8 of the Central Excise Rules has statutory force and an exemption under notification is as if it were contained in the Act itself. He says that the earlier decisions require reconsideration. 5. The decisions of the Tribunal cited by the learned Advocate for the applicant, all are of the view, that notwithstanding the exemption notification, it is the assessee s option to avail or no .....

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