2001 (9) TMI 545

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....ired for availing the benefit under Rule 57H(4) of the Central Excise Rules. The second issue was as to what is the date from which Modvat credit will be admissible. The third issue was as to what is the date from which money credit will be available under Rule 57O and the fourth point was whether the transitional provisions under Rule 57H(4) are applicable to money credit scheme or not. 3. The first point i.e. whether permission of Asstt. Commissioner is required or not. I note that the ld. Counsel for the appellant cited a number of decisions in which it was held that the permission of the Asstt. Commissioner was not necessary for availing the benefit of Rule 57H(4) of the Central Excise Rules, 44. This decision was taken by this ....

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.... apply with equal force to take money credit under Rule 57O. 7. A lot of arguments were adduced by the ld. Counsel for the appellant that transitional provisions under Rule 57H will be applicable to the Money Credit Scheme under Rule 57O. In support of his contention, ld. Counsel cited a number of decisions prominent among them are the decisions of the Ashwini Vanaspati Industries Pvt. Ltd. v. CCE reported in 2000 (37) RLT. 396, Oswal Vanaspati & Allied Industries v. CCE reported in 1996 (83) E.L.T. 341 and in the case of Hindustan Lever Ltd. v. CCE reported in 1997 (93) E.L.T. 295. In these decisions, the Tribunal has observed :- "The crucial sub-rule (2) lays down that a manufacturer who has filed a declaration in sub-ruled (1)....