2007 (11) TMI 531

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... der]. -  After dispensing with the condition of pre-deposit and penalty, I proceed to decide the appeal itself. 2. The dispute relates to the Modvat credit available to the textile w.e.f. 1-4-03, in respect of stock lying as on 31-3-03. The appellants filed a declaration on 7-4-03, declaring such stock which was subsequently revised on 16-4-03 and again revised on 22-4-03. As per the a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ation which was April, 2003 was subsequently changed as June, 2003. As such, the assessees could revise declaration, when there is a reasonable cause for doing so. Instead of rejecting the appellant's claim on this short ground, the authorities below should have verified the claim as regards the stock position as on 31-3-03. 4. In view of the above, I set aside the impugned order and remand .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X