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2016 (12) TMI 1219 - CESTAT MUMBAIBenefit of notification no. 14/2002-CE dated 1st March 2002 - interpretation of statute - payment of duty on inputs to avail exemption - Held that: - The Hon’ble Supreme Court in Leisure Sports and Leisure Apparels [2016 (8) TMI 128 - SUPREME COURT] held that A reading of the Budget Explanatory Note makes it clear that those who did not want to avail MODVAT facility were allowed to clear the goods without payment of any excise duty - the contention of Revenue that assesses are not entitled to the exemption in notification no. 14/2002-CE does not find sustenance - demand of duty along with interest, as well as imposition of penalty also set aside - appeal allowed - decided against Revenue.
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