SooperKanoon Citation | sooperkanoon.com/21561 |
Court | Customs Excise and Service Tax Appellate Tribunal CESTAT Tamil Nadu |
Decided On | Mar-19-2001 |
Appellant | Commissioner of C.Ex., Trichy |
Respondent | M/S. Sarvesh Cotton Mills Ltd. |
2. Ld. DR Shri S.Kannan seeks reversal of the order and of allowing the appeal.
3. Ld. Counsel Shri M.Venkataraman submits that the now the issue is settled by the Finance Act. 2000 which has been followed by the Larger Bench of this Bench in the noted case above.
4. On careful consideration & on perusal of the records, I notice that the Finance Act, 2000 has retrospective effect holding that modvat credit on HSD oil cannot be granted and the Revenue appeals have been accepted by the Larger Bench and has since been applied in all the appeals coming before this Bench. In that view of the matter, the impugned order is set aside and the revenue appeal allowed. Ordered accordingly.