2006 (2) TMI 519

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..... Shri K.K. Anand, Advocate, for the Respondent. [Order per : C.N.B. Nair, Member (T)]. - The respondent manufactures textured yarn from non-textured yarn. The textured yarn so manufactured was exempt under Notification No. 178/83-C.E. That exemption was repealed with effect from 1-3-94. The respondent was also at liberty to work under Rule 56A during the period when the exemption was rep....

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....he contention of the learned Counsel for the respondent is that Notification No. 70/94 makes it clear that the benefit of that notification is on condition that no credit of duty is taken under Rule 56A. The contention of the learned counsel is that once the notification specifically recognizes the alternate benefit under Rule 56A, the assesses were are at liberty to either follow 56A procedure or....