2001 (1) TMI 279

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.... JDR, for the Respondent. [Order]. -  The appellants had taken Modvat credit on inputs (lubricating oils & greases and rubber tubes) totalling to Rs. 3,09,120.70 in November, 1994. Out of such credit, an amount of Rs. 2,86,720.70 was the extent of credit taken on lubricating oils and greases and the balance credit was taken on rubber tubes. The lubricating oils and greases had been supp....

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....er of adjudication. Hence the present appeal by the assessees. 2. I have carefully examined the records and heard both sides. Ld. Advocate Shri Shekhar Vyas submits that there are two issues arising for consideration in this appeal. Firstly, whether lubricating oils and greases were eligible inputs for the Modvat credit under Rule 57A. Secondly, whether the duty paying documents (invoices ....

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....e appellants have now brought on record certificates from IOC and BPC supplementing the necessary particulars and that the invoices issued by the Goodyear Co. had no deficiency of particulars in terms of the notification. He, therefore, prays for setting aside the impugned order and allowing the appeal. 3. Ld. JDR Shri S.C. Pushkarna submits that sufficient opportunity of personal hearing ....

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....llants. Therefore, the authorities rightly disallowed the credit, submits ld. JDR. He prays for upholding the impugned order. 4. I have carefully considered the submissions. I accept ld. Counsel's submission that the eligibility of lubricating oils and greases for input-credit for a period prior to 1-3-1997 stands affirmed by the Tribunal (Larger Bench) in the case of Modi Rubber Ltd. (sup....