TMI Blog2015 (11) TMI 898X X X X Extracts X X X X X X X X Extracts X X X X ..... f EXIM Policy 2002-2007 relevant para 4.35 of the policy was amended vide Notification No.28[RE-2004)/2002-2007 dt. 28.1.2004 where the restriction of DEPB as mentioned in last sentence of the paragraph has been deleted. Identical issue has already been settled by Hon'ble High Court of Punjab & Haryana in the case of CCE Ludhiana Vs Neel Kanth Rubber Mills - [2010 (4) TMI 281 - PUNJAB & HARYANA HI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8,501/- availed by the appellant where the duty debit was made in DEPB in respect of CVD paid by the appellant and availed credit. The lower authorities disallowed the credit on the ground that adjustment of CVD paid in DEPB scrips under EXIM Policy 2002-07 was not eligible to avail credit as per the restrictions read with exemption notifications. 2. After hearing both sides, I find that the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of the learned counsel for the revenue that since the licence in the present case was issued under the previous policy and during that period, the Cenvat credit was not admissible in CVD paid, otherwise than in cash, so, the assessee is not entitled to avail the Cenvat credit, is not only devoid of merit but misplaced as well, because the EXIM Policy amended, vide Notification dated 28-1-2004 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... count, in that eventuality, the revenue cannot deny the benefit of Cenvat credit to the assessee, in the obtaining circumstances of the case. We are of the considered opinion that the Adjudicating Authority has rightly dropped the proceedings and refunded the amount of Cenvat credit to the assessee, vide order (Annexure A2/1), which was upheld by the Commissioner (Appeals) as well as the Appellate ..... X X X X Extracts X X X X X X X X Extracts X X X X
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