2019 (6) TMI 121

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....tian, Advocate for the Appellant Shri T.K. Sikdar, Assistant Commissioner (AR) for the Respondent ORDER RAJU This ROM application has been filed by M/s. Indian Oil Corporation Limited in respect of order No. A/10489/2019. 2. Ld. Counsel pointed out that after the matter was heard on 27.02.2019, the decision of the Hon'ble High Court of Gujarat came to his knowledge which he submitted to t....

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....Hon'ble High Court in the case of Gujarat Narmada Valley Fertilizer Company Limited vs. UOI - 2017 (345) ELT 50 (Guj.) observed as follows:- "16. In the result the impugned notification dated 3-5-1997 insofar as it limits the Modvat credit to the extent of amount of excise duty calculated at the rate of 10% ad valorem in cases where full excise duty at the rate of 15% was paid, is declared i....

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....on. 6. In view of the above, the ROM application is allowed in the following terms. The Para 4 and 5 of the order are replaced by the following:- "4. Hon'ble High Court of Gujarat in the case of Gujarat Narmada Valley Fertilizer Company Limited vs. UOI - 2017 (345) ELT 50 (Guj.) has examined the notification No. 14/97-CE (NT) dated 03.05.1997 and observed as follows:- "16. In the result t....