2010 (12) TMI 318

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.... Srova, JDR for the Revenue.   Mrs. Archana Wadhwa:   The appellants are engaged in manufacture of cotton fabrics, man-made fabrics and knitted fabrics etc. During the relevant period, they were enjoying the benefit of exemption in terms of Notification No.29/2004-CE and No.30/2004-CE, both dated 9.7.04. Notification No.29/2004-CE provides for concessional rate of duty subject to a....

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....s.14,37,294/- (the reversal being less by an amount of Rs.32,659/-). However, such reversal of credit has not been held to be satisfying the condition of notification, on the ground that such reversal was subsequent to clearance of the goods during the period from July 2004 to October 2004 and was delayed by more than 15 months. The Commissioner has also observed that there was a short reversal of....

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....efore Hon'ble Supreme Court in the case of M/s Chandrapur Magnet (Wires) Pvt. Ltd was not about reversal being prior or after the removal. The dispute before the Hon bleApex Courtwas as if such reversal would amount to as if no credit was availed. It was under these circumstances that the expression reversal by the appellant before clearance of the product was used. We further note that the Tribun....

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....ourse adopted by the Tribunal. 6. Similarly, we find that Hon'ble High Court of Allahabad in the case of M/s Hello Minerals Water (P) Ltd. Vs. UoI as reported in 2004 (174) ELT 422 (All.) has observed that the benefit of Notification granting exemption on the final product has to be extended even if the reversal of credit on the input was done at the Tribunal s stage. The Hon'ble High Court fur....