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2013 (2) TMI 162 - AT - Central ExciseCommencement of Period of limitation for filing refund claim - Lapse of Modvat Credit - manufacturer of tractors - as per the notification any credit of specified duty lying unutilized on the 16th day of March, 1995 shall lapse and shall not be allowed to be utilized for payment of duty on any excisable goods, whether cleared for home consumption or for export. Held that:- In our opinion, when the credit will lapse and how much will lapse can be said to have been decided only when the matter gets finally decided. Even if we decide in this order that the credit shall lapse, the assessee may go in appeal against our order. Therefore whether the credit will lapse or not can be said to have been decided only when both the parties decide to call it a day and stop litigation. Therefore even if we uphold the view taken by the Department that the order passed by the ld. Commissioner before us is correct, the appellant would be entitled for refund within one year from the date of communication of the order because that will be the date on which the assessee can be said to have come to the conclusion that the credit has lapsed and cannot be adjusted any more and we have already taken a view that the words used “For any reason” would include the statutory provision relating to lapsing of the credit. Assessee becomes entitled to entire amount of credit of Rs. 237.7 Lakhs as refund. Adverse report by the cost auditor - held that:- There is no explanation given by the cost auditor as to the logic and rationale adopted by him. He simply says that he could not verify the figures of total purchase and modvat credit availed. If he has not found any discrepancy with regard to specific inventory codes selected by him it cannot be understood how he could not believe the figures given by the company. In case he had found discrepancy even in respect of one inventory code, adoption of an alternative method probably can be justified.
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