2004 (9) TMI 477

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.... Shri C. Mani, JDR, for the Respondent. [Order per : P.G. Chacko, Member (J)]. -  Refunds totalling to Rs. 74,99,199/- were made to the appellants under Rule 5 of the CENVAT Credit Rules, 2001, which were the amounts of duty paid on the inputs used by them in, or in relation to, manufacture of the final products which they had exported under bond during the first 3 quarters of the fina....

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....under :- "5. The refund is allowed only in those circumstances where manufacturer is not in a position to utilise the credit of the duty on inputs allowed under Rule 3 of the said rules against goods exported during the quarter or month to which the claim relates. " It is the Counsel's contention that the demand of duty is based on a misinterpretation of the above condition according to whic....