9911796707
TMI Blog2003 (7) TMI 598X X X X Extracts X X X X X X X X Extracts X X X X ..... er : Archana Wadhwa, Member (J)]. Out of the total demand of Rs. 11,63,450.00 confirmed by the authorities below vide their impugned order passed in de novo proceeding, we have been informed that the appellant has already deposited an amount of Rs. 5,00,000/- during the first round of litigation before the Tribunal. Taking the said deposit to be sufficient, we dispense with the condition of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit of duty paid on the inputs received in the appellants factory, when their final product was dutiable but utilised in the manufacture of the final product which subsequently become exempted, cannot be extended to them. Shri Chattopadhyay submits that the issue is no more res integra and has been decided by the Larger Bench decision of the Tribunal in the case of M/s. Commissioner of Central E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... respect of the inputs received by them their final product was dutiable. The authorities should have adjusted the same against the demand confirmed. 3. Shri N.K. Mishra, ld. JDR appearing for the Revenue submits that the demand in question relates to the period 11-4-97 to 5-6-97 when the authorities have already granted the benefit to the appellants in respect of stock of inputs lying either as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for quantifying the Modvat credit available to the appellants and adjusting the same against the demand confirmed against the appellants. While allowing such Modvat credit, we find that the credit in respect of the inputs lying in stock as on the day of subsequent exemption of final product, has not been allowed and adjusted against the demand. We find that the issue is no more res integra and the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tock as on 6-6-97. If that be so, appellants are entitled to claim the credit. In a nutshell, the appellants are entitled for credit in respect of the inputs received till 5-6-97, whether utilized and cleared in the shape of final product or not. With these observations, once again, we set aside the impugned order and remand the matter to the Assistant Commissioner for re-quantifying the demand, i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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