9911796707
TMI Blog1999 (5) TMI 172X X X X Extracts X X X X X X X X Extracts X X X X ..... rnani, JDR, for the Respondents. [Order per : Gowri Shankar, Member (T)]. - The appellant availed the benefit of Notification 432/86. The notification grants exemption to dye intermediates to the extent of duty paid on naphthalene used in the manufacture of such intermediates. On 1-3-1994, the notification was rescinded. Simultaneously, naphthalene became eligible for Modvat credit under Rule 5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .E. - 1996 (81) E.L.T. 648 to the same effect with regard to an identically issued Notification No. 225/86. The Departmental Representative is unable to show existence of the contrary decision. Therefore, the requirement that one-to-one relation be maintained is not justified and, therefore, the denial of the transfer of the credit to Modvat account on the ground of one-to-one relation is not just ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Appeals) permitting credit on the ground that there was no balance in the RG 23 account at the relevant time, the judicial member took the view that the maintenance of the particular format or account either under proforma credit scheme or set off scheme is one and the same and is a procedural requirement and that transfer of unutilised credit or the accumulated credit in set off account should b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The exemption specified in Clause (b) could not be effected without maintaining account for credit taken on the raw material or component and used for payment of duty on the finished products. Once it is held that such an exemption provides for credit or set off of duty paid in material or components for payment of duty on the finished goods, the credit is available and denial of the credit for f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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