2004 (11) TMI 248

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..... forgings. 2. Regarding electrodes no Modvat credit can be claimed by the appellants in view at the Tribunal's decision in the case of Jaypee Rewa Plant reported in 2003 (159) E.L.T. 553 wherein the Larger Bench has taken a view that the credit to the assessee on these goods is not permissible under the law. Therefore, the impugned order disallowing Modvat credit on these goods, is upheld. 3. H .....

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..... the Larger Bench decision, in Jaypee Rewa Plant case (supra), deserves to be accepted. Earlier the Tribunal had taken the view that Modvat credit was admissible on the electrodes and that it is only after the Larger Bench of the Tribunal, in the above said case, the controversy had been set at rest by holding that no Modvat credit is admissible on these goods. Therefore, under these circumstances, .....

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