COMMISSIONER OF C. EX. Vs. BHUSHAN INDUSTRIES LTD.

JUDGEMENT

(1.) Heard both sides.

(2.) The Revenue filed this appeal against the order -in -appeal passed by the Commissioner (Appeals).

(3.) Brief facts of the case are that the respondents are engaged in the manufacture of excisable goods classifiable under Chapter Heading 72 of Central Excise Tariff Act, 1985. The respondents opted for Compounded Levy Scheme for payment of excise duty on their final product. As per Compounded Levy Scheme, credit of duty lying unutilised was to lapse on the first day of August 1997.