TaxTMI 
TaxTMI 
2015 (1) TMI 1036
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.... ORDER After dispensing with the condition of pre-deposit of interest of Rs. 53,538/-, I proceed to decide the appeal itself inasmuch as the issue lies in narrow compass and stands covered by various decisions. 2. After hearing both sides, I find that the appellant is engaged in the manufacture of chewing tobacco and was having two factories one at Sector 60, NOIDA and another at Sector 9,....
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....nvat credit account, unutilized when they reversed the same. It may also be mentioned that appellants are not disputing the reversal of the credit. 4. Subsequently, the Superintendent directed the appellant to deposit the interest amount for the period for which the credit amount was lying in their records. Accordingly, proceedings were initiated by the show cause notice dated 11-2-2013. The....
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....preme Court decision has to be given preference than the Karnataka High Court decision, he confirmed the interest amount. Hence the present appeal along with stay petition. 6. I find that there is no dispute about the facts. The credit was availed by the appellant in terms of permission granted by their jurisdictional Asstt. Commissioner. It was only subsequently that the Revenue changed it....
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....'ble High Court and Hon'ble Supreme Court. Of course, there can be no legal quarrel on the issue that Supreme Court decision have to be given preference over High Court decision. But the situation in the present case is different inasmuch as the Hon'ble Supreme Court decision in the case of Indo Swift was noticed by Hon'ble Karnataka High Court and after distinguishing the same, the Hon'ble High C....