S. R. RAJASEKHARA MURTHY, J.

( 1 ) THE petitioner is a public-sector undertaking engaged in the manufacture, assembly and erection of hydraulic gates, hoists, cranes and pen-stock pipes which are eligible to levy under the Central Excise Act ('the Act' ). The petitioner filed classification list 1/86 effective from 21-3-1986 giving particulars of all excisable goods manufactured by the petitioner. The classification list, a copy of which is produced as Annexure-'c' to the writ petition gives the full description of each item manufactured/warehoused by the petitioner. Item-2 in the said form gives the particulars of parts of components of hydraulic structure, etc. , manufactured by the petitioner-company.

( 2 ) AFTER the Modvat Scheme was introduced by the Central Government in the year 1986, the petitioner availed of the benefit of modvat in respect of the finished excisable goods. The petitioner, accordingly, filed a declaration before the jurisdictional Assistant Collector of Central excise, as required under the Rules and started availing of the benefit under the Modvat Scheme. Monthly returns were filed and a credit account in Form No. RG 23a Part I and II was also maintained

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