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TMI Blog2014 (9) TMI 69X X X X Extracts X X X X X X X X Extracts X X X X ..... be decided at this stage. Accordingly, after disposing of the stay applications filed by the Revenue and the Assessee, I proceed to dispose of the appeals. 2. Heard both sides and perused the records. 3. The issue involved in this case is whether the amount equivalent to the credit originally taken has to be reversed or not for the clearance of the capital goods after usages for a considerable p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls) allowed the appeal of the assessee subject to payment of duty with interest on the depreciated value and set aside the penalty. 5. Revenue filed appeal against the impugned order to restore the adjudication order. On the other hand, the assessee filed appeal to set aside the impugned order. 6. The learned AR on behalf of Revenue submits that the law as it stood during the material period, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ided by the Larger Bench of the Tribunal in the case of CCE Vs. Navodhaya Plastic Industries Ltd.- 2013 (298) E.L.T. 541 (Tri. - LB) She further submits that cotton yarn was optionally exempted from payment of duty under Notification No. 30/2004-CE dated 9.7.2004 and they started availing this exemption from 1.8.2006. She submits that they had an unutilized balance credit of Rs. 11,03,665/- a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arger Bench in the case of Navodhaya Plastic Industries Ltd. (supra). Accordingly, I set aside the impugned orders and remit the matter to the adjudicating authority to decide afresh after considering the decision of the Larger Bench in the case of Navodhaya Plastic Industries Ltd. (supra). He shall also consider the submission of the learned counsel in the context of utilization of unutilized cre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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