2011 (6) TMI 324

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....Respondent : Shri R.S. Srova, JDR   Per : Mrs. Archana Wadhwa;   After dispensing with the condition of pre-deposit of service tax of Rs. 44,162/-, confirmed against the appellants and interest amount, we proceed to decide the appeal itself with the consent of both the sides, inasmuch as the issue lies in a narrow compass.   2. The facts of the case, in brief, are that the ....

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....benefit under the Notification of the Govt of India in he Ministry of Finance (Department of Revenue) No. 12/2003-ST dated 20.06.2003 (GSR 503(E) dated 20.06.2003. Since the appellants have availed cenvat credit along with the benefit of abatement, they failed to fulfil the conditions laid down and wrongly assessed the service tax liability for the period from October 2006 to March 2007. Therefore....

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....As such, it amounts to as if no credit has been availed by the appellants. The said plea of the appellants was not accepted by the Commissioner (Appeals) who rejected the appeal. Hence the present appeal.   4. It is seen that the appellant had reversed the wrongly availed modvat credit along with interest, the same will have the effect as if no credit was availed by the appellants. The law....

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....the subsequent reversal of modvat credit amounts to non-taking of credit on inputs and the benefit of exemption notification number 15/94-CE is to be granted, even when reversal of credit on inputs was done at Tribunal stage.   8.1 The above judgment of the High Court is based on five member bench decision of the Tribunal in the case of Franco Italian Company Private Limited vs. CCE, 2000 ....