2002 (7) TMI 735

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....t. Shri S.K. Roychowdhury, Advocate, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. - The short point involved in the present appeal of the Revenue is as to whether the respondents are entitled to take the Modvat credit of duty paid by them on the inputs in terms of Notification No. 24/94-C.E., dt. 20-5-94 or they should have been taken Modvat credit on deemed based in term....

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....ly agree with the contention of the ld. Advocate that Rule 57A(1) only extends the facility of deemed Modvat credit to the assessee at the rates specified vide Notification issued by the Central Govt., wherever the appellants are not able to produce the duty paying documents. As such it is the extention of facility of Modvat credit at deemed rates and on deemed basis and cannot take away the asses....

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....t have got place in Notification No. 24/94 as amended by Notification 30/96 on 3-9-96 itself. The very fact that these inputs and final products were also specified on 3-9-96 in the Notification issued under Rule 57A(1) shows that wherever the assessee could produce the actual evidence of payment of duty on the inputs, the same would be available as credit at those rates. It is well settled propos....