2008 (1) TMI 755

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..... er per : M. Veeraiyan, Member (T)]. Heard both sides on the stay petition. 2. The applicant had made supplies to projects funded by Asian Development Bank (ADB) and availed the exemption from payment of duty under Notification No. 108/95. When goods are cleared on exemption the credit involved on the raw materials requires to be reversed. However exception to reversal of the credit is also .....

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..... tory views have been taken, one for the purpose of extending the benefit of Notification No. 108/95 and another to deny the benefit of exception provided under Rule 6 of Cenvat Credit Rules. As the benefit of notification holding ADB as an international organization has been granted, prima facie, we find that the applicant has a strong case in their favour and we therefore grant an unconditional s .....

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