2002 (12) TMI 542

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..... espondent. [Order per : Archana Wadhwa, Member (J)]. After hearing the learned Consultant, Shri B.N. Chattopadhyay for the appellants and Shri A.K. Mondal, learned S.D.R. for the Revenue, we find that the short point involved in the present case is as to whether the appellants are required to reverse back the Modvat credit on opting out of the Modvat Scheme and opting for exemption under .....

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..... nd that there is no provision in the Modvat Rules in that respect. 2. Now, our attention has been brought to another Larger Bench decision of the Tribunal in the case of Commissioner of Central Excise, Rajkot v. Ashok Iron Steel Fabricators reported in 2002 (140) E.L.T. 277 (Tri. - LB), wherein the earlier decision was considered and reversed. In the said Larger Bench decision, it has been hel .....

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..... y, learned Consultant for the appellants also makes it clear that there is no dispute relating to availability of Modvat credit claimed by them under the provisions of Rule 57H(7) and their plea before the authorities was only to adjust that amount against the demand amount. 4. We find that the only dispute in the present case is in respect of reversal of Modvat credit for the inputs contained i .....

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