2005 (8) TMI 129

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..... aper within the stipulated period specified in the notification and, therefore, had not fulfilled the pre-condition for the grant of exemption - whether the appellant is entitled to reverse the entry relating to the Modvat debited by it on the duty paid inputs during April 1995 - Held that:- Additionally, the appellant is aggrieved by the imposition of penalty on the appellant by the Assistant Com .....

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..... nt. The exemption was subject to the limitation that it would be admissible only in respect of such quantities of newsprint as was authorised by the Registrar of Newspaper for India and only if a certificate to this effect was produced before the Assistant Collector of Central Excise within one month from the date of clearance of the newsprint or within such extended period as the Assistant Collec .....

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..... f April, 1995, had debited its credit account with the proportionate amount as was relatable to the quantity of raw-material used in the manufacture of newsprint for that month. The appellant's present grievance is limited to the question whether the appellant is entitled to reverse the entry relating to the Modvat debited by it on the duty paid inputs during April 1995. The appellant seeks to .....

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