Modvat credit on pre-1994 gate passes endorsed later was held settled, so the reference application was rejected.

Modvat credit on gate passes issued before 1-4-1994 but endorsed after that date was treated as settled by the Gujarat High Court, which held that the relevant rules did not require endorsement before 1-4-1994. Because that pronouncement already covered the proposed question, the issue was no longer open for reference. The Revenue's application for reference was therefore rejected.

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Issues: Whether the Revenue's application for reference of the question relating to Modvat credit on gate passes issued before 1-4-1994 but endorsed after that date should be rejected.

Analysis: The question proposed for reference had already been answered by the Gujarat High Court, which held that the relevant rules did not require the gate passes to be endorsed before 1-4-1994. In view of that pronouncement, the issue was no longer open for reference.

Conclusion: The reference application was rejected.

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