TMI Blog2008 (1) TMI 309X X X X Extracts X X X X X X X X Extracts X X X X ..... ill be available to the manufacturer without any limitation of time - after insertion of sub-rule (3) of Rule 11 CCR, assessee is required to pay the amount equivalent to the Credit in such cases - appeal filed by the revenue is rejected - E/179/2007-SM - 502/2008-SM(BR)(PB), - Dated:- 10-1-2008 - Shri P.K. Das, Member (J) Shri S.L. Meena, DR, for the Appellant. Shri Ajay Jain, Advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or contained in final product, on the date of opting for exemption, all credit is to be reversed. 3 . The learned Advocate submits that sub-rule (3) of Rule 11 of Cenvat Credit Rules, 2004 which was inserted by Notification No. 10/2007, dated 1-3-2007 provides a manufacturer or producer of the final product shall be required to pay an amount equivalent to the Cenvat credit, if any, taken by him ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 238 (Tri-Bom) (b) Tafe Limited (Tractor Division) v. CCE, Bangalore - 2007 (210) E.L.T. 571 (T) = 2007 (79) RLT 706 (CESTAT Bom) (c) Swastik Textile Engineers Pvt. Ltd. v. CCE, Ahmedabad - 2007 (214) E.L.T. 198 (Tri-Ahmd) (d) Bhoorathram Co v. CCE, Jaipur - 2007 (208) E.L.T. 411 (Tri-Del). 4 . After hearing both the sides and on perusal of the record, I find that the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal in the case of Ashok Iron Steel Fabricators (supra) held that credit is not required to be reversed when subsequently final product exempted from duty, credit having been taken and 'benefit available to the manufacturer without any limitation of time. It is seen that the Tribunal in a series of decisions following the decision of the Larger Bench of the Tribunal held in favour of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
