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TMI Blog2010 (8) TMI 419X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod from 1-4-1995 to 22-4-1995 for the purpose of computation of aggregate value of first clearances for availing the exemption – Held that: - value of specified goods cleared from the first date of the financial year has to be taken into account for reckoning the aggregate value of clearances, the Larger Bench held that the amount paid by the assessees as duty of excise on cotton yarn cleared f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -4-1994(sic) they cleared cotton yarn on payment of excise duty at normal rate and filed classification list on21-4-1995for availing SSI exemption under Notification No. 1/93-C.E. as amended. From27-4-1995to8-5-1994(sic) they cleared goods availing SSI exemption upto the value of Rs. 30 lakhs excluding the value of goods cleared during the period from1-4-1995to22-4-1995for the purpose of computati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... E, Coimbatore v. Marutham Textiles (P) Ltd. - 2003 (153) E.L.T. 219, held that the value of specified goods cleared from the first date of the financial year has to be taken into account for reckoning the aggregate value and therefore confirmed the demand after setting aside the adjudication order. Hence this appeal. 2. We have heard both sides. We find that although in paragraph 12 of the Large ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1975 1976/2009 dated16-12-2009. We find that in the present case the assessees have availed exemption upto the limit of Rs. 30 lakhs. Therefore, following the ratio set out in paragraph 13 of the Larger Bench decision cited supra and the decision in Sree Jayanthi Spinners cited supra, we set aside the impugned order and allow the appeal. (Dictated and pronounced in open court) - - TaxTMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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