2003 (10) TMI 164

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....rities below have rejected the claim of the appellants for refund of Rs. 5,36,02,238/- on the ground that they were capable of using the accumulated credit refund of which was being claimed, and hence they did not fulfil the condition laid down under Rule 57AC(7) of the Central Excise Rules providing for refund only if the accumulated credit is not capable of utilization for payment of Central Exc....

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...., is acceptable particularly when the adjudicating authority has noted that clearance for home consumption is much less than the clearances for export. We are therefore unable to understand how it has been held that the accumulated credit was capable of utilization either for goods cleared for home consumption or for exports on payment of duty. During the quarter in question namely July 2000, Sept....