1998 (9) TMI 282

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....h, SDR, for the Respondent. [Order per : V.K. Agrawal, Member (T)]. - M/s. P & B Pharmaceuticals (P) Ltd. have come in Appeal against the order in appeal, dated 22-4-1994 passed by the Collector (Appeals) in which the Collector (Appeals) has disallowed the higher notional credit in respect of bulk drugs. 2. When the matter was called none was present on behalf of the Appellants in sp....

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.... in paragraph 5 of the Notification No. 175/86 was for the purpose of providing the ceiling of Notional higher credit available to the assessee; that the paragraph 5 was an independent provision in Notification No. 175/86 issued under Rule 57B which aimed at giving the Modvat credit of amount higher than the excise duty actually paid when the inputs were received from the small scale industries. T....

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....exempted from the duty of excise leviable thereon), under this Notification, and received on or after the 1st day of April, 1998 in a factory where such goods are used as inputs or in relation to the manufacture of final products in terms of the provisions of Section AA of Chapter V of the said rules, the credit in respect of such inputs shall be allowed under rule 57B of the said rules, at the ra....