9911796707
TMI Blog2011 (7) TMI 605X X X X Extracts X X X X X X X X Extracts X X X X ..... and the ratio of the order of the Tribunal in the case of VENUS WIRE INDUSTRIES PVT. LTD. Versus COMMR. OF C. EX., RAIGAD [2007 (12) TMI 332 - CESTAT, MUMBAI] will squarely apply in this case. Secondly the CBEC Circular dated 26.7.2006 also talks about regularization of credits availed on inputs and duty paid on wires drawn by a retrospective amendments - in favour of assessee. - E/909 of 200 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the matter before the adjudicating authority who confirmed the demands along with interest and imposed penalties. 3. Aggrieved by such an order, the respondents preferred the appeal before the Commissioner (Appeals). The Commissioner (Appeals) set aside the order-in-original relying upon the decision of the Tribunal in the case of PSL Holdings Ltd. vs. CCE reported at [2003 (156) ELT 602 (Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d submit that respondents had cleared their final product on payment of duty on value addition though not and it is not disputed by the revenue. It is his submission that the Board's Circular dated 26.7.2006 wherein Rule 16 was amended retrospectively in the case of wire drawing units. He would draw our attention to the judgement of Co-ordinate Bench in case of Venus Wire Industries Pvt. Ltd. vs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... final product will in a way amount to reversal of Cenvat credit taken and the ratio of the order of the Tribunal in the case of Venus Wire Industries cited supra, will squarely apply in this case. Secondly the CBEC Circular dated 26.7.2006 also talks about regularisation of credits availed on inputs and duty paid on wires drawn by a retrospective amendments. We find that para 4.4 of the said CBEC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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