10. To our mind, the decisions of the Honble Supreme Court in the case of Life Long Appliances (Supra), following the decision of Chandrapur Magnet Wires Ltd. (Supra) and the judgment of Honble Apex Court in the case of Bombay Dyeing Manufacturing, (Supra) and the judgment of the Honble High Court of Bombay in the case of Concept Pharmaceuticals Ltd. (Supra) squarely cover the issue in favour of the assessee.
''Heard the learned Senior Counsel for the appellant and the learned Counsel for the respondent. We have perused the order impugned in this appeal. The Tribunal as a matter of fact held that the appellant has satisfied the requirement of not taking Modvat credit on the inputs used in the manufacture of exempted goods and therefore their case is specifically covered by Rule 57CC as well as the decision in Chandrapur Magnet Wires (P) Ltd. v. Collector of C.Ex., Nagpur reported in 1996 (81) E.L.T.3 (S.C.) with regard to not availing Modvat credit on inputs. The impugned order, therefore, is not liable to be interfered with at the instance of the Revenue. The appeal fails and stands dismissed. No costs.''