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TMI Blog2016 (2) TMI 781X X X X Extracts X X X X X X X X Extracts X X X X ..... h Court reported (2008 (8) TMI 783 - BOMBAY HIGH COURT ) While the decision in case of Sterlite Industries Ltd. has been given in respect of disputes which had arisen during the MODVAT regime, the same argument are equally applicable to the Cenvat Credit Rules, 2004. It is seen that the decision of the Tribunal in the case of Sterlite Industries Ltd. (supra) relies on the spirit of the MODVAT Rules and no specific rules. The ratio of the said judgment is equally applicable to Cenvat Credit Rules, 2004. - Appeal No. E/30 to 33/11 - A/85231-85234/16/SMB - Dated:- 6-1-2016 - Raju, Member (T) For the Appellant : Ms. Mansi Patil, Adv For the Respondent : Shri H.M. Dixit, AC (AR) ORDER Per Raju The appellant, M/s MPI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interpreting the MODVAT Rules, whereas the present dispute pertains to Cenvat Credit Rules. 4. I have considered the rival arguments. I find that the Tribunal in case of Sterlite Industries Ltd. (supra) has observed as follows: 3. We are also in agreement with the appellant's contention that Rule 3. 57C debars taking of credit in respect of the inputs used in the manufacture of the final product, if final product is exempted from the whole of duty of excise leviable thereon or chargeable to nil rate of duty. As such, to attract the provisions of Rule 57C, two situations in respect of the final product should be satisfied. Either the final product should be exempted, which situation can arise only when there is an exemption notif ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ances, we are in agreement with the decision rendered in the case of Bajaj Tempo and Jindal Polymers. 4. 5 .. 6. In view of the foregoing, we answer the reference in favour of the assessee. The papers may be placed before the original Bench for passing the appropriate orders The said decision of the Tribunal has been upheld by Hon'ble Bombay High Court (cited supra). While the decision in case of Sterlite Industries Ltd. has been given in respect of disputes which had arisen during the MODVAT regime, the same argument are equally applicable to the Cenvat Credit Rules, 2004. It is seen that the decision of the Tribunal in the case of Sterlite Industries Ltd. (supra) relies on the spirit of the MODVAT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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