2005 (5) TMI 463

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....ao, JDR, for the Respondent. [Order]. -  The duty demand of Rs. 3,69,132/- has been confirmed against the appellants by disallowing the Modvat credit on the inputs lying in stock as on 29-2-2000. The contention raised by the ld. Counsel is that the case is fully covered by the Apex Court judgment in the case of CCE, Pune v. Dai Ichi Karkaria Ltd. reported in 1999 (112) E.L.T. 353 and th....

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....e ordered to be reversed, cannot be accepted. The ratio of law laid down in both the cases referred above cited by the Counsel, is not attracted in this case. In those cases the credit on the inputs, already stood utilized and the inputs had also gone in the manufacture of final product. Here, the inputs were still in stock on the date when exemption notification was issued. Therefore, the case of....