2008 (3) TMI 282

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....ant. Shri K.S. Reddy, JDR, for the Respondent. [Order per: S.L. Peeran, Member (J)]. - This appeal arises from OIA No. 58/05-C.E. dated 30-8-2005 by which the Commissioner has confirmed OIO No. 65/2004 dated 2-11-2004 by which the Commissioner (Appeals) has denied the Cenvat credit availed on the additional customs duty adjusted by debit in the DEPB Scheme. He has relied on Larger Bench judg....

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.... that no new benefit should be given and the notification should be read as prospective only. 4. Learned counsel submits that during the relevant period he availed Cenvat credit, there was judgment of the Tribunal in the case of Polyhose India Pvt. Ltd. = 2003 (152) E.L.T. 361. He submits that there was bona fide belief supported by the Tribunal ruling to avail Cenvat credit. Therefore he canno....

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....fit of Cenvat credit on deposits made in DEPB passbook has got only prospective effect. However it cannot be said that appellants have suppressed the facts as they have availed the benefit under bona fide belief. There were Tribunal rulings supporting the plea such as Polyhose India (P) Ltd. Therefore, the allegation of suppression does not stand to reason. The revenue is entitled to recover the a....