2007 (1) TMI 388

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..... Shri R.B. Pardeshi, JDR, for the Respondent. [Order per : Jyoti Balasundaram, Vice-President]. -  Modvat credit of Rs. 26,83,800/- has been disallowed to the appellants herein who are manufacturers of Wireless Sets/Radios, Colour Television and sub-assemblies thereof falling under Chapter 85 of the Schedule to the CETA 1985, on the ground that credit was taken beyond the period of ....

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....he appellants that at the time of availment of credit i.e. in March and April 2001, the Cenvat Credit Rules 2001 were inforce and these did not contain any time limit for taking credit. The only condition is that credit can be availed immediately on receipt of input into factory inputs were brought into the factory between December 2000 and April 2001 and credit taken in March and April 2001 i.e. ....