UNION OF INDIA Vs. BHILWARA SPINNING LTD

JUDGEMENT

(1.) We have heard learned Counsel for the parties.

(2.) In this appeal, at the instance of the Revenue, following substantial question of law was framed at the time of admission :

(3.) The short controversy that arises in this case is that the respondent-assessee was in receipt of consignment of HFO in his factory from the importer under relevant invoice evidencing the payment of Counter vailing Duty on the goods consigned under that invoice by the importer. The respondent-assessee was entitled to avail Modvat credit on that basis.