1999 (7) TMI 159

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.... Respondent. [Order]. - Heard both sides. 2. The respondents herein were availing of Modvat credit on certain inputs for utilisation in their final product, super enamelled wire and bare copper wire prior to 1-4-1996. They intended to avail of the benefit of full exemption under Notification 1/93-C.E., dated 1-4-1996. Therefore, they surrendered their licence to the Central Excise au....

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....lso contained in finished goods lying in stock on 31-3-1996 to the tune of Rs. 17,034.58 be not recovered from them. The adjudicating authority on adjudication confirmed the aforesaid amount of recovery. The respondents herein, however, succeeded before the lower appellate authority. The said authority has observed as follows :- "The appellant decided to avail of the Modvat credit and restored ....

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....eing the position utilisation of the amount of Rs. 17,304.58 out of Rs. 24,217/- is in order. The findings of the adjudicating authority on this count is not sustainable.'' It is against the said finding that the Revenue has come in appeal. 2. Contention of the Revenue is that the credit of duty availed of by the respondents and lying in stock as also the credit of duty paid on inputs c....