2007 (7) TMI 490

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....llant. Shri R.S. Paranjape, CA, for the Respondent. [Order]. - These two appeals are directed against the order-in-appeal No. P-III/463/2005 dated 26-12-2005. 2. The revenue is in appeal against the said order on the ground that the Commissioner (Appeals) has not appreciated the law as regards the refund amount and has not appreciated the provisions of Section 11B. 3. Cons....

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.... of action arose only after the prices were reduced and debit notes raised by the customers and I do not accept the rates of payment of duty on the relevant date since the payment of duty did not give rise to any cause of action. The cause for refund arose only after the price were reduced by the customers and debit notes were raised. The customers subsequently reversed the credit of duty which be....

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....inding, it is seen that the Commissioner (Appeals) has considered the date of reversal of the Modvat credit by the purchaser of the appellants products, as a relevant date for the provision of Section 11B. It is seen that the Commissioner (Appeals) has also considered that the reduction in price, as the relevant date for the purpose of filing refund application by the respondents. The whole issue ....

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....r, 1995 i.e. on discovery of mutual mistake of the parties. In the circumstances, we hold that provisions of Section 11B of the Act are attracted to the refund application filed by the petitioner. On the question of limitation, our conclusion is that since the claim is based on discovery of mistake, the period of limitation would not commence from the date of reversal of Modvat credit, but from th....