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TMI Blog2013 (2) TMI 193X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 01.04.1997 was issued by the Central Government whereby an option was given to avail for full exemption from duty in respect of the final products. Of course, if that option was exercised, Cenvat credit could not be availed of in respect of those clearances after having exercised the option. 2. Although the learned Counsel for the appellant made several arguments challenging the impugned order dated 02.07.2012 passed by the Central Excise Services Tax Appellate Tribunal, Principal Bench, New Delhi in appeal No.E/918/2005-EX(DB), the only point which we feel ought to be examined is whether the option exercised by the appellant was in accordance with the notification No.16/97/CE dated 01.04.1997. 3. One of the conditions for exercising ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stipulated in the said notification. 6. This being the case, we feel that it would be appropriate for the learned counsel for the respondent to take instructions as to whether the clearances for which no duty have been paid for three months mentioned above could be subjected to central excise duty after giving the benefit of Cenvat credit to the appellant in accordance with law. The learned counsel for the appellant states that the appellant is willing to pay whatever amount is calculated as per the record of clearances. 7. The learned counsel for the respondent shall take instructions accordingly. Renotify on 06.02.2013." 2. The learned counsel for the respondent had taken time to take instructions as to whether the clearances, for whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce. It is no doubt true that an option once exercised under the said notification, could not be withdrawn for the entire period of the financial year during which that option is exercised but, as we have already mentioned above, this is not a case of withdrawal of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. 6. This being the position, if the appellant has taken any advantage of the notification, that advantage would have to be reversed. The appellant's case would, therefore, have to be governed outside the said notification for the entire financial year 1997-98. This answers both the questions. 7. The department shall make the computation, as the appellant is willing to pay the amoun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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