2000 (3) TMI 62

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...., learned Standing Counsel appearing for the respondents. 2. A demand of Rs. 3,40,000/- under the Central Excise Act has been raised for the purchases made by the petitioner for the period of August, 1992 to February, 1994 on the ground that old and unserviceable rails purchased by him as waste and scrap from the Railway Department for purposes of rerolling is not shown to be duty paid. The app....

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....in in similar circumstances the Tribunal had observed that "on such rerolling iron and steel material purchased from outside and lying in stock on or after 7-7-1992 Modvat credit is admissible….. The applicant appeared to have a strong prima facie case on merits and even if the old and unserviceable rails are treated as waste and scrap exempted under Notification No. 171/88-CE as held by the lea....