2000 (12) TMI 727

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... 2. We have heard ld. DR Shri S. Kannan for the Revenue who reiterates the grounds in the revenue appeal and submits that he could not locate any decision of the Larger Bench on this issue nor he has any information whether the issue is pending before the Larger Bench as was recorded in the note sheets earlier when this matter came for consideration. 3. Ld. Consultant Shri C. Chidambaram for the respondents submits that there is no Larger Bench decision on this issue, nor to his knowledge any such matter is pending decision before the Larger Bench. He submits that the issue is well covered by the Tribunal decision in the case of Orissa Synthetics Ltd. - 1995 (77) E.L.T. 350 and Reliance Industries [1995 (78) E.L.T. 595 (Tri....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nvolved should lapse/be expunged. 6. As the goods have been cleared to an advance licence holder for procurement of duty free intermediate products and therefore no credit on the inputs used was admissible and the order of Collector (Appeals) to this effect that Rule 191BB and notification issued thereunder laid down regress procedure was not relevant in this case. The Board has instructed that intermediate advance licence holder would not be entitled for Modvat credit on such indigenous raw material used by him and a Trade Notice has been issued to that effect and since the party themselves has expunged the credit, the dispute whether such proportionate credit was to be expunged now well settled and even assuming that clearances in....