2004 (11) TMI 248

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to the denial of Modvat credit to the appellants on electrodes and steel forgings. 2. Regarding electrodes no Modvat credit can be claimed by the appellants in view at the Tribunal's decision in the case of Jaypee Rewa Plant reported in 2003 (159) E.L.T. 553 wherein the Larger Bench has taken a view that the credit to the assessee on these goods is not permissible under the law. Therefore, the....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....penalty on the ground that there were earlier conflicting judgments prior to the Larger Bench decision, in Jaypee Rewa Plant case (supra), deserves to be accepted. Earlier the Tribunal had taken the view that Modvat credit was admissible on the electrodes and that it is only after the Larger Bench of the Tribunal, in the above said case, the controversy had been set at rest by holding that no Modv....