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2004 (11) TMI 388

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....e Appellant. Shri S.V. Parelkar, JDR, for the Respondent. [Order per : Moheb Ali M., Member (T)]. - This application for waiver of pre-deposit of duty and penalty under Section 35F and stay recovery thereof arose out of the order of Commissioner of Central Excise, Mumbai-IV. In the impugned order the Commissioner demanded Rs. 1,08,44,588/- and Rs. 3,03,813/- being inadmissible deemed credit ava....

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....lment of deemed credit at specified rates. As per serial No. 5 of the notification the provision of notification will apply only to processed fabrics manufactured from unprocessed fabrics not manufactured in the same Mill, provided no credit under Rule 3 of Cenvat Credit Rules, 2002 was availed in respect of said unprocessed fabrics by that composite Mills. Explanation 2 to the notification define....

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.... fabrics are manufactured in Spring Mills and are received in another Mill albeit belonging to the same company for further processing. The explanatory notes to the budgetary changes 2002-03 clarifies that insofar as composite Mills are concerned, deemed credit can be availed only in respect of fabrics received from outside for processing. In our opinion, the intention of the Government is not to ....