2005 (6) TMI 548

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.... L. Narasimha Murthy, SDR For the Respondent Rep. by : Shri S.V. Ratnam, Adv. Per: Dr. S.L. Peeran : This is a Revenue appeal against OIA No. 47/2003-CE dated 02.06.2003. The Commissioner (Appeals) has applied the ratio of the Supreme Court ruling rendered in the case of CCE, Pune Vs. Dai Ichi Karkaria Ltd. - 1999 (112) ELT 353 (SC). The assessee is a manufacturer of Jute, Yarn and Twine fallin....

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....alogy of the Apex Court to hold that there was no irregular availment and that there is no provision in law to direct the reversal of credit on Capital Goods under similar circumstances. 2. We have heard both sides in the matter and find that the issue decided by the Commissioner in the light of the Apex Court is a correct view. Furthermore, this matter was referred to Larger bench of 5 Members o....