1997 (9) TMI 645

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....he total amount aggregates to ₹ 4,44,562.80. The short point involved is whether in case of the stock transfer of the goods from one unit of the appellant to the other unit when the goods manufactured in one unit which have been cleared on payment to the godown the benefit of Modvat credit could be denied, when the goods moved under the advice note which contained all the necessary particulars are required under law. The learned advocate for the appellants has pleaded that the issue stands covered by the decision of the tribunal in the case of CCE v. Modern Food Industries (India) Ltd. reported in 1988 (37) ELT 294 (T) : 1988 (18) ECR 541 (T) wherein in para 7 the Tribunal has held as follows:-- We have carefully considered the fact....

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....e criteria as has been laid down by the Tribunal he has no objection to the matter being re-examined in the light of the decision of the tribunal. 3. The learned advocate has pleaded that the appellants in fact have done the book adjustment and therefore the ratio of the decision of tribunal would be applicable. 4. We observe that the Modvat scheme is a beneficent piece of legislation and the spirit of the scheme is that the cascading effect of the duty should be obviated. Keeping that in mind, we have to consider whether in the circumstance, for a multi unit organisation where the goods manufactured in one unit get to be transferred by book adjustment by another unit whether the Modvat credit could be denied, just because there is no sal....