2010 (3) TMI 540

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....per : D.A. Mehta, J. (Oral)]. - The appellant-revenue has proposed the following two questions : "[i] Whether in the facts and circumstances of the present case, the Tribunal is justified to reject the appeal of revenue by holding that in the absence of the legal provision specifically providing that the credit in the books has lapsed, accumulated credit shall not lapse? [ii] Whether the Gov....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....998 only because assessee could not utilise the said accumulated credit as per terms of the Compounded Levy Scheme. The adjudicating authority stated that as the order rejecting the refund claim had not been challenged, there was no question of upholding the submission that the credit did not lapse. 3. Assessee carried the matter in appeal and succeeded. Revenue preferred appeal before the Trib....