TMI Blog2017 (8) TMI 1142X X X X Extracts X X X X X X X X Extracts X X X X ..... cation dated 17th August 2017 challenged - reversal of 5/6th of the CENVAT Credit which had already accrued to the Petitioner on account of payment of additional duty of customs levied under Section 3(1) of the Customs Tariff Act, 1975 paid at the time of importation of gold dore bar seeked - Held that:- The Court is of the view that the Petitioners have made out a prima facie case for grant of in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hiliani, Advocates. Respondents Through: Mr. Vikas Mahajan, CGSC with Mr. S.S.Rai, Advocate for UOI/R1. Mr. Harpreet Singh, Senior Standing Counsel for R2. O R D E R 1. Notice. Mr. Vikas Mahajan, learned Central Government s Standing Counsel accepts notice for Union of India/Respondent No. 1. Mr. Harpreet Singh, learned Senior Standing Counsel accepts notice for Central Board o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ided credit of the entire CVD paid on inputs held in stock and inputs contained in semi-finished or finished goods held in stock on 1st July 2017 on complying with certain conditions. The Petitioners state that they fulfilled all the conditions and the credit of the CVD paid on imported gold dore bars accrued to them. 3. However, it is stated that in exercise of rule-making powers under Secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re not granted then the credit of CVD already availed and utilized for payment of tax on finished goods by the Petitioners would be electronically reversed and they would have to deposit cash. This would be severely prejudicial to them. 4. The Court is of the view that the Petitioners have made out a prima facie case for grant of interim relief in their favour. Further, the balance of conveni ..... X X X X Extracts X X X X X X X X Extracts X X X X
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