1992 (5) TMI 135

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....amount of Rs. 26,248.74 taken as a higher notional credit, was not admissible to the Appellants and directing them to repay the same either by crediting the same in the PL Account with them or by depositing the same in cash, and also imposing penalty of Rs. 1,000/- under Rule 173Q(1)(bb) of the Central Excise Rules, 1944. 2. The appellants here are engaged in manufacturing of excisable goods falling within Chapters 85 and 90 of the Central Excise Tariff, and though they are the small scale units, they did not avail the benefit of Notification 175/86 during the financial year 1989-90, but chose to avail of Modvat Credit. In the course of their manufacturing activity, during the said period, the appellants purchased certain inputs fro....

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....unal), where the Tribunal has held that rights conferred under Rules 57A and 57B, cannot be taken away merely on account of not availing such credit at the time of receipt of the inputs, unless the same, is barred by limitation, and has further observed that such a credit is taken within a reasonable time. The Collector (Appeals) however held that reasonable time was not defined in the said decision, and in his opinion, higher notional credit, is not taken at the time of receipt of input, or at the end of the month, or in any case before the 5th day of the next month, when RT-12 Returns have to be filed, the same was not available. 3. Mr. Rajhans, the Ld. Consultant has pleaded that Rule 57B does not specify as to at what point of t....