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TMI Blog2007 (2) TMI 472X X X X Extracts X X X X X X X X Extracts X X X X ..... for the Respondent. [Order per : P.G. Chacko, Member (J)]. One of these appeals is by the assessee and the other by the Revenue. The assessee, during the material period, was engaged in the manufacture of submersible pumps (water pumps) which were exempt from payment of duty under Notification No. 4/97-C.E. dated 1-3-1997. These pumps were manufactured from rough castings which were manu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the price of the rough castings which were captively consumed in the manufacture of such pumps. In the impugned order, learned Commissioner (Appeals) held that the assessee was not required to pay 8% of the price of the pumps and were only required to pay 8% of the price of the castings captively consumed in the manufacture of pumps. This decision is under challenge in the Revenue s appeal. 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of over Rs.12 lakhs towards 8% of the value of the pumps cleared from their factory and subsequently realised that they were required to pay only 8% of the value of the castings captively consumed in the manufacture of such pumps, amounting to Rs. 1,59,428/-. The difference between the two amounts was Rs. 11,06,343, which was taken as Modvat credit on 6-11-1996 and this credit was utilised by them ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s count also. Therefore, in our view, it was not necessary for the Commissioner (Appeals) to record any observation to the effect that the credit-taking would be subject to the time-bar provisions of Section 11B and that, if the assessee had taken the credit after six months from the relevant date, the same was required to be reversed. The assessee s grievance against such observation is well-foun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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