1997 (12) TMI 195

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....ppellant. Shri V.K. Puri, SDR, for the Respondent. [Order per : K.S. Venkataramani, Member (T)]. - We have heard Shri Devan Parikh, the ld. Counsel for the appellants and Shri V.K. Puri, the ld. SDR. The issue in this case relates to availment of Modvat credit on the inputs of the appellants herein which are Picture Tubes for television sets. The appellants had a practice of receiving the....

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....d of an assessee under the Rule 57F(1) who is operating under the Modvat Scheme. So far as the basic requirement is fulfilled by the appellants, the fact that they did not reverse the credit immediately on finding the picture tubes are sub-standard is not material. The ld. Counsel for the appellant has also relied upon the Tribunal decision in the case of Prem Pharmaceuticals v. Collector - 1996 (....