Home Case Index All Cases Central Excise Central Excise + HC Central Excise - 2013 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (2) TMI 193 - HC - Central ExciseNotification No. 16/97/CE dated 01.04.1997 - Whether the appellant had validly exercised the option given in the notification - appellant was availing Cenvat credit in respect of clearances of its final products (electrical equipments) - Held that:- As in the order dated 11.01.2013 itself it was indicated that the appellant had not exercised the option validly as he has availed Cenvat credit which would not have been availed of in respect of those clearances after having exercised the option. The option was still-born and, therefore, the appellant could not have taken advantage of the notification dated 01.04.1997. Tribunal was in error in assuming that this was a case of withdrawal of an option. It was not a case of withdrawal, but it was a case of an option which had not been validly exercised, in the first instance. It is no doubt true that an option once exercised under the said notification, could not be withdrawn for the entire period of the financial year during which that option is exercised but, as mentioned above, this is not a case of withdrawal of an option. On the contrary, it is a case of the option itself being ineffective from its inception. This being the position, if the appellant has taken any advantage of the notification, that advantage would have to be reversed & appellant’s case would, therefore, have to be governed outside the said notification for the entire financial year 1997-98. The department shall make the computation, as the appellant is willing to pay the amount as per the record of clearances & appellant shall file the requisite documents for the purposes of computation within four weeks from today.
|