1997 (4) TMI 191

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.... Bedi, Advocate, for the Respondent. [Order per : G.R. Sharma, Member (T)]. -  By the captioned reference application, the applicant has submitted that the following points of law arise out of the Tribunal's Final Order No. A/2261/96-NB, dated 18-9-1996 : "1. Whether the Hon'ble Tribunal is correct in concluding that option is available to the assessee either to avail exemption ....

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....of duty. The Tribunal observed that the issue here is about the admissibility of Modvat credit when there is an exemption notification for the goods in question. The Assistant Commissioner took the view that the assessee has to necessarily avail of the full duty exemption up to Rs. 30 lac value of clearance in a financial year. As they were entitled to SSI exemption under Notification No. 1/93-C.E....

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....there is no pronouncement by any High Court and that a reference arises in the instant case. He submits that since the Tribunal has admitted that a point of law is involved, the present case may also be referred to the High Court. 4. Ms. Ginny Bedi, ld. Advocate submits that she has no objection if the case is referred to the High Court. 5. Heard the submissions of both sides. I ag....