2005 (10) TMI 108

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..... 3-1987 mandatory in nature and will non-fulfilment of the conditions thereof necessarily result in rejection of refund claim? (2) Does the provision of the act permit cash refund of the accumulated modvat credit upon introduction of Rule 96ZQ? (3) Is the Order of Tribunal contrary to the judgment of Customs, Excise Service Tax Appellate Tribunal, in the case of Narayani Textiles Pvt. Ltd. v. .....

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..... nt of duty on other goods cleared for home consumption or for export on payment of duty. 3. The assessee was regularly availing the deemed credit and utilizing the same for payment of duty on other goods cleared for home consumption. 4. As the Central Government introduced compounded levy scheme on textiles from 15-12-1998, the central excise duty could only be paid in cash and not by utilizin .....

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..... nded levy scheme did not provide that balance of accumulated deemed credit shall lapse on the specified date, which is normally stipulated in subsequent notifications. 4.The Tribunal has, while approving and confirming the aforesaid findings, also recorded that merely because the relevant quarter was not specified in the refund claim, it could not be a ground to reject the claim because such a l .....

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