2009 (3) TMI 393

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....rova, JDR, for the Respondent. [Order]. - The appellant is engaged in manufacture of PP Fabrics and woven sacks falling under Chapter 39 of the Central Excise Tariff Act. During the period from May 2007 to June 2008, they procured PP granules, as one of their inputs, from M/s. Reliance Industries Ltd., a 100% EOU. The said granules were cleared by M/s. Reliance Industries Ltd. on payment of cou....

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....pearing for the appellant has fairly conceeded that the appellant is entitled to avail the credit in terms of the above formula. However, the dispute concerns about factor 'X' i.e. the assessable value of the goods. Whereas the lower authorities have adopted the value of 'X' as the assessable value shown in the invoices, learned advocate's contention is that the said factor 'X' would include value....

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....' has to be taken as the last factor and first the internal two brackets have to be opened. As such 'X' cannot be held to be inclusive of BCD as contended by the appellant. As such I find no justification in their plea. The excess credit so availed by the appellant to the extent of Rs. 1,76,627/- is upheld. 6. At this stage learned advocate submits that the entire credit was taken on records on....