2004 (5) TMI 576

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....ppeal against the impugned order-in-appeal. The Commissioner (Appeals) vide his impugned order accepted the claim of the respondents that, in terms of Letter No. TS/36/94-TRU, dated 1-3-94, the respondents were eligible to take deemed Modvat credit on the steel ingots and re-rollable materials. 2. The respondents were availing the benefit of exemption Notification No. 1/93-C.E. and paying co....

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....he said unit ceased to be a unit availing of exemption under Notification 1/93-C.E. after crossing the limit of ₹ 75 lakhs for the reason that, such clearances exceeding the level of ₹ 75 lakhs, paid the normal duty of excise as applicable to any other unit working outside the exemption Notification No. 1/93-C.E. 4. The original authority had accepted the claim of the respondents....

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....ption had exceeded ₹ 300 lakhs in the preceding financial year. 8. It is apparent from this reading of the Notification that if the clearances during the preceding financial year exceed ₹ 300 lakhs, only then, the contents of Notification 1/93-C.E., are not applicable. This is not the case that the respondents had exceeded this eligibility limit in the previous year. Therefore, t....