2004 (2) TMI 617

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....Baranwal, SDR, for the Respondent. [Order per : V.K. Agrawal, Member (T)]. - M/s. Jai Bharat Fabrics Mills Ltd. have filed the present appeal against Order-in-Appeal No. 49/2003, dated 31-1-2003 regarding lapsing of Modvat Credit. 2. We heard Shri R. Sudhinder, learned Advocate for the Appellants, and Miss Charul Baranwal, learned SDR for the Revenue. The learned Advocate submitted that t....

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....he learned Advocate that Modvat Credit, which has accrued legally to them, cannot be allowed to lapse by inserting a sub-rule (7A) in Rule 57H; that it has been held by the Supreme Court in the case of Eicher Motor Ltd. v. UOI, 1999 (106) E.L.T. 3 (S.C.) that "when on the strength of the rules available certain acts have been done by the parties concerned, incidents following thereto must take pla....

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....e Court, therefore, held that Section 37 of the Central Excise Act does not enable to authority concerned to make rule for lapsing of the balance Modvat account. Reliance has also been placed on the decision in the case of Sankeswar Fabrics (P) Ltd. v. UOI - 2002 (142) E.L.T. 42 (Rajasthan). 4. Countering the arguments Miss Charul Baranwal, learned SDR, submitted that Notification No. 11/200....

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....rnative remedy as it may be advised." 5. We have considered the submissions of both the sides. The Appellate Tribunal is the creature of the statute and it is the settled law that the authorities functioning under the Act are bound by its provisions. The Supreme Court in the case of CCE, Chandigarh v. Doaba Co-operative Sugar Mills, 1988 (37) E.L.T. 478 (S.C.) has held that "the authorities ....