1997 (12) TMI 401

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..... Shri V.K. Puri, SDR, for the Respondent. [Order per : K.S. Venkataramani, Member (T)]. - In this case proceedings were initiated against the Appellants for denying Modvat credit of Rs. 4,31,360/- on the ground that it has been wrongly availed of on the total quantity of ammonia used in the manufacture of Nitric Acid during the period April 1986 to August 1986 under Rule 57-I of Central ....

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....ermediate product namely Nitric Acid is not exempt from the whole of duty of excise but is assessed through `nil' rate of duty. The order of the Additional Commissioner of Central Excise, Vadodara denied Modvat credit on this ground is now under challenge. 2. After hearing Shri J.S. Bhatt, the ld. Consultant for the Appellants and the ld. SDR Shri V.K. Puri, we find that the denial of Modv....