9911796707
TMI Blog2006 (6) TMI 457X X X X Extracts X X X X X X X X Extracts X X X X ..... in Writ Petition against the order of the pre-deposit. By Order dated 22-11-07, the Hon ble High Court has set aside the Stay Order and directed the Tribunal to consider the question of waiver of pre-deposit afresh in accordance with law, after considering all relevant factors and in particular the submissions of the petitioners with regard to the prima facie case in appeal as also the financial capacity of the petitioner. The Hon ble High Court held that it would be open to the Tribunal to dispense with the pre-deposit on such conditions that the Tribunal might deem fit to impose to safeguard the interest of revenue and it further directed that the appeal may be heard and disposed of expeditiously preferably within eight weeks from the dat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Y. S. Loni appearing for the Department. He brings to our notice that Rule 57F(17)(c) of the Central Excise Rules, 1944, stipulated that the credit in respect of a manufacturer paying duty under the Compounded Levy Scheme, would lapse and that the same would not be allowed to be utilized for payment of duty. He further points out that Section 37 of the Central Excise Act, 1944, has been amended inserting Clause (xxviii) in sub-section (2) of Section 37 to make rules to provide for the lapsing of credit of duty lying unutilized with the manufacturer of specified excisable goods on an appointed date and also for not allowing such credit to be utilized for payment of any kind of duty on any excisable goods on and from such date. He states tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit on which was taken earlier. Since such inputs would have been completely utilized long ago, allowing them to utilize the credit on the same much later would grant them an undue bonanza not available to any other manufacturer. Keeping in view the specific provisions of the Rules, vires of which cannot be questioned in the light of the retrospective amendment of Section 37 of the Central Excise Act, 1944, we find that the appellants do not have a prima facie case on merit in their favour. 6. We are also surprised to note that Shri Munshi, ld. Consultant did not point out to us that Section 37 has been retrospectively amended and necessary power has been given to the Government for making Rules for lapsing and non-utilisation of credit. ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
