Dinesh Mehta, J. - (1.) Feeling aggrieved of rejection of request of encashment of the amount lying in CENVAT credit account, by the authorities below, the appellant has approached this Court, by way of present appeal under Section 35-G of the Central Excise Act, 1944 (for short, hereinafter "the Act of 1944).
(2.) The appellant, a manufacturer of Cotton Yarn, Fabrics, Synthetic Filament Yarn, has been paying applicable Excise Duty, Education Cess, Secondary and Higher Secondary Education Cess on the raw material procured by it. The Central Government, however, vide notification No.14/2015 and 15/2015 issued on 1.3.2015 exempted levy of Education Cess so also Secondary and Higher Secondary Education Cess.
(3.) On the fateful day i.e. on 1.3.2015, the appellant had an accumulated balance of Rs.7,08,993/- comprising Education Cess of Rs.4,74,725/- and Secondary and Higher Secondary Education Cess of Rs.2,34,208/- in its CENVAT credit account. Consequent to the very rescission of the Education Cess and Secondary and Higher Secondary Education Cess, the concerning credit lying in the CENVAT credit, paid on the inputs, input services and capital goods became unutilisable or unrealisable for the assessee.;