2006 (5) TMI 327

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..... espondent. [Order per : S.S. Kang, Vice-President]. - Heard both sides. The applicant filed this application for waiver of pre-deposit of duty of Rs. 50,45,263/-. The revenue confirmed the demand after denying the credit on the ground that processes undertaken by the appellant does not amount to manufacture. Therefore, the applicants are not entitled for the credit. 2. The applicants are .....

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..... Hon'ble Supreme Court in the case of CCE v. Naramada Chematur Pharmaceuticals Ltd. reported in 2005 (179) E.L.T. 276 dismissed the appeal of the revenue, by taking into consideration the facts of the case, that Modvat is equivalent to the duty paid by the assessee. Hon'ble Supreme Court held as under : "In the present case also revenue wants to deny the credit on the ground that final product is .....

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