2017 (1) TMI 412

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e accumulated deemed credit lying on 31.3.2003 were admittedly availed prior that date when the N/N. 6/2002-CE(NT) was in force. Therefore the credit availed under the authority of law. There was no provision either for lapsing the accumulated credit balance as of 31.3.2003 or reversal thereof - in the absence of any provision the credit which was legally availed, cannot be lapsed or to be reverse .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e res integara . He placed reliance on the following judgments : (i) S.V. Business Put. Ltd. Vs. Commissioner of C.Ex., Thane-l 2007 (220) E.L.T. 443 (Tri.-Mumbai) Upheld by the Hon'ble Bombay High Court and subsequently by Hon'ble Supreme Court as reported as 2008 (229) E.L.T.A95 (Bom.) 2010 (256) E.L.T. A91 (S.C.) (ii) Commissioner of C.Ex., Ahmedabad-ll Vs. Omkar Textile Mil .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 4. On careful consideration of the submissions made by both the side. We find that the accumulated deemed credit lying on 31.3.2003 were admittedly availed prior that date when the Notification No. 6/2002-CE(NT) was in force. Therefore the credit availed under the authority of law. There was no provision either for lapsing the accumulated credit balance as of 31.3.2003 or reversal thereof. In thi .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X