2003 (5) TMI 381

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....lant. Shri M.R. Nadkarni, Consultant, for the Respondent. [Order per : J.H. Joglekar, Member (T)]. - This application for stay of operation of the impugned order was argued by Shri Deepak Kumar. The respondents were presented by Shri M.R. Nadkarni, Consultant. On hearing both sides it appeared that at this stage itself the main appeal could be taken up for disposal. With the consent of bo....

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....llows: "However, it is matter of record that the appellants while opting for exemption under said Notification No. 38/97 first time filed letter of option in the financial year 1997-98 along with declarations under Rule 173B. The declaration filed by the appellants w.e.f. 1-4-98 was for the period in continuation of earlier declaration for the year 1997-98. It is also observed that although app....

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.... also an application for stay. In the grounds of appeal it is claimed that the filing of option is mandatory and non-filing thereof cannot be taken to be merely it take the lapse. It is claimed that during the period where there was no formal option, the Assistant Commissioner's order demanding duty was appropriate. 4. We have seen the text of the concerned notification. Paragraph 2 condit....

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....a facie the claim has merit. We however observe that an action taken at an earlier point is held to suffice for a later obligation. Thus Section 11B of the Central Excise Act, 1944 requires an application to be made for refund within six months of the relevant date. In a particular case an assessee had intimated to the department of his intention to take refund and then had subsequently filed a fo....