2005 (2) TMI 190

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..... s have been filed for stay of operation of the orders of the Commissioner (Appeals) who has allowed the claim of the assessees for refund of balance unutilised credit and directed the Dy. Commissioner to re-calculate the balance of credit and allow refund in cash, under the provisions of Rule 57AC(7) of the erstwhile Central Excise Rules, 1944. 2. We have heard both sides. The respondents herein .....

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..... on the grounds, inter alia, the respondents have not tried to utilize the credit lying in their Cenvat Account for domestic clearance and export under claim for rebate by grossly undervaluing their export product. The Commissioner (Appeals) allowed refund of the Modvat credit accumulated; the Department filed appeals to the Tribunal which vide its Order No. A-1106-1107/WZB/04/C-III, dated 10-9-200 .....

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..... sed in the final products which are cleared for export under bond or used in the intermediate product cleared for export, the Cenvat credit in respect of the inputs so used shall be allowed to be utilized by the manufacturer towards payment of duty of excise on any final product cleared for home consumption or for export on payment of duty and where for any reason such adjustment is not possible, .....

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