2002 (4) TMI 685

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....Shri A.K. Pandit, JDR, for the Respondent. [Order]. - After dispensing with the condition of pre-deposit of duty amount of Rs. 6,45,293/- (Rupees six lakh forty five thousand two hundred ninty-three) and penalty of Rs. 50,000/- (Rupees fifty thousand) I take up the appeal itself with the consent of both the sides. 2. As per the facts on record the appellant availed the Modvat credit ....

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....was not required to be reversed by the appellant. As such the appellant again became entitled to credit of the Modvat already reversed by them. Accordingly they credited the said amount of Modvat in their records again. The Revenue's objection is that such credit was made by them after a period of six months from the date of issuance of the invoice and as such the provisions of Rule 57G(2) have be....

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....estion. However, I find that Rule 57G(2) requires the assessee to take the credit within a period of six months from the date of issuance of the invoice. The appellant had already availed the credit within the said period. Once the appellant earns the credit the only question, which remains, is about its utilisation. The said credit so earned by the appellant in accordance with law was utilised by....