2003 (12) TMI 236

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....per : K.C. Mamgain, Member (T)]. - This is an appeal filed by the Revenue against the Order-in-Original No. 33/97, dated 28-11-97 passed by Commissioner of Central Excise, Hyderabad. 2. M/s. Tube Investments of India Ltd. (unit of Rolmor Chains Division) at Medak (hereinafter referred to as M/s. RCD) received CR/HR strips and steel wires on payment of Central Excise Duty under Rule 57F(1)(ii) o....

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....ty paid by them cannot be availed as Modvat credit by RCD as the payment of duty could not be considered as Central Excise Duty. Show cause notice was issued to M/s. RCD proposing to recover the irregularly availed Modvat credit of Rs. 62,22,694/- and to confiscate the seized CRCA strips and to impose penalty. The case was adjudicated by the Commissioner of Central Excise, Hyderabad-II who dropped....

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....ower to disallow part of duty paid on inputs as Modvat credit on the ground that such duty was not payable. (b)     CCE v. National Insulated Cable (I) Ltd. [2001 (130) E.L.T. 850 (T)] wherein it was held that it is a well-settled proposition of law that it is the option of the assessee to avail of the exemption notification or pay duty on the exempted products. (c) ....