M.P.SINGH,J. - (1.) THE petitioner has claimed the refund of the excise duty wrongly recovered under Item No. 26 -AA(ia) of the Central Excises and Salt Act, 1944 ('the Act No. 1 of 1944')
(2.) THE petitioner is a public limited company within the meaning of the Companies Act. It manufactures iron and steel products which were excisable goods. The Government of India, Ministry of Finance (Department of Revenue), issued Notification No. 306/63, Central Excise, dated 30th of November, 1963, which was subsequently amended in 1965 and then in 1968. The Government vide these notifications exempted the following items from payment of whole of the excise duty leviable on such products : - '(i) fresh unused re -rolling scrap on which the appropriate amount of duty of excise has already been paid. (ii) Semi -finished steel including blooms, billets, slabs, sheets bars, tin and hoe bars on which the appropriate amount of duty of excise has already been paid. (iii) Old and used re -rollable scrap; (iv) ingots, on which the appropriate amount of duty or excise has already been paid, cut or broken not rolled in any shape resembling the shape of any of the products referred to in sub -item (i) of this Item.'
(3.) ANOTHER Notification No. 123/65 dated August, 1965 was issued, making further exemption in the following items : - 'Ingots on which the appropriate amount of duty of excise has already been paid cut or broken (but not rolled) in any shape resembling the shape of any of the product referred on in said item (i) of the item No. 26 -AA.' ;