2003 (12) TMI 236

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....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) of Central Excise Rules, 1944 f....

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....led 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 the proceedings. 3. Shri L. ....

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....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) Modern Malleables Ltd. v. CCE [2000 (122) E.L.T. 270 (T)] wherein it was held that it is not po....