MITTAL STEELS LTD. Vs. COMMISSIONER OF CENTRAL EXCISE,

JUDGEMENT

(1.) THIS application is filed by the applicant M/s. Mittal Steels Ltd., for rectification of mistake under Section 35C(2) of the Central Excise Act, 1944 on the ground that mistake has crept in with reference to Final Order No. 673/2001, dated 21 -3 -2001 passed by the Tribunal.

(2.) HEARD both sides.

(3.) ISSUE relates to Modvat credit. In the final order referred to above it was held that since rules relating to Modvat credit were deleted from the statute and in the absence of saving clause, all the proceedings initiated under old repealed rules would simply lapse and accordingly appeals were dismissed as not maintainable. Subsequently amendment was brought out in the Finance Act of 2001. The object of insertion of Section 38A in the Finance Act, 2001 is to extend the retrospective operation of the relevant provisions with effect from 28th day of Feb., 1944. In view of the amendment some of the assessees whose appeals were dismissed as not maintainable have filed applications for rectification of mistake in view of the changes brought out by inserting Section 38A of the Finance Act, 2001. On examining the Section 38A in the Finance Act, 2001 with reference to case law the Tribunal rectified the mistake holding that the appeals are maintainable in view of the amendment/changes brought out in the Finance Act 2001, as per Order Nos. 218 -263/01, dated 30 -10 -2001, [2001 (47) RLT 586 (Tribunal)]. Following the precedent in line with that order this application is allowed. In view of this position this matter is posted for hearing on merits on 24th April, 2002.