TMI Blog2006 (1) TMI 152X X X X Extracts X X X X X X X X Extracts X X X X ..... T as well as Commissioner (Appeals) has failed exercising jurisdiction vested in them by not making the provisions with regards to eligibility to Modvat credit applicable on the date of receipt of the capital goods viz. GENERATOR at the factory of the assessee. (ii) Whether the impugned decision rendered by the CESTAT as well as Commissioner (Appeals) is 'per inquarium' in view of the decision r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Look credit of 50% of the said amount in 2000-2001 and the remaining 50% balance in the next financial year. The case of the revenue was that on the date of receipt of the capital goods by virtue of notification which was in force on the said day the assessee could avail credit of only 75% of the duty paid and hence, the assessee could have taken only 50% of 75% entitlement, and not 50% of the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quent notification and restrict the allowance in one year @ 50% of the entitlement, revenue has to work out the entitlement as per the said notification and for working out the entitlement cannot take recourse to the earlier notification where no such restriction about availability @ 50% of the entitlement was existing. It is in the aforesaid circumstances that the Tribunal has confirmed the order ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
