2009 (12) TMI 760

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....DER None present for the Respondent. But the Respondent has filed written memo for the disposal of the matter on merit. 2. Ld. DR Shri Mahesh Rastogi submits that in case of switching over to new scheme of SSI exemption benefit, the transitional provisions required the assessee to forego the Cenvat credit lying in its account and surrender the same to the treasury. That was not done in this ....

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....ersy and brushed aside substance of the order of Adjudication. Without looking to the Cenvat credit lying in WIP as appearing in the table of the show cause notice, his observation was that the assessee has not been benefited out of the Cenvat credit. This proposition is inconceivable in view of the materials brought out in the show cause notice, not supporting the decision of learned Appellate Au....

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....ssee gets benefit switching over to an SSI exemption, the Modvat credit lying in WIP is necessary to be surrendered to the exchequer unless otherwise permitted by law. In absence of any surrender, the matter calls for reviewing very strictly and no interpretational benefit shall defeat purpose of the statute. Accordingly the matter has to go back to the ld. Commissioner (Appeals) to examine the is....