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TMI Blog2008 (2) TMI 737X X X X Extracts X X X X X X X X Extracts X X X X ..... f the case, in brief, are that the appellants were engaged in the spinning of woollen yarn, weaving and processing of woollen fabrics and man-made fabrics and availing the facility of Pro forma Credit on the inputs under Rule 56A of the erstwhile Central Excise Rules, 1944. On 20-5-94, Proforma Credit Scheme was withdrawn. But, the appellant followed Proforma Credit procedure during the period fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority distinguished the decision of the Tribunal in the case of National Industrial Corporation (supra), which is not applicable in the facts of the case. 5. After hearing both the sides and on perusal of the records, I find that Proforma Credit Scheme was withdrawn w.e.f. 20-5-94 and was replaced by the Modvat credit. The contention of the appellant is that they have no knowledge of the intr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tral Excise could allow credit of the duty paid on inputs received by a manufacturer immediately before obtaining the dated acknowledgement of the declaration made, if he is satisfied that: (i) inputs are tying in stock or are received in the factory after filing of the declaration or (ii) such inputs are used in the manufacture of final product which are cleared from the factory on or after the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... There is no dispute over the issue that the goods manufactured out of the inputs, were cleared from the factory on or after the first day of March, 1987. In that case, therefore, clause (ii) Rule 57H would stand attracted and the benefit of modvat credit, by virtue of the transitional provisions, has to be given to the appellants. Rejection thereof is not correct. 6. In view of the above discus ..... X X X X Extracts X X X X X X X X Extracts X X X X
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