Commissioner Of Central Excise, Mumbai vs M/S. Hindoostan Spinning & ...

The Supreme Court clarified that the law laid down by the Court is binding and cannot be overridden by circulars issued by the Central Board of Excise and Customs, as established in Collector of Central Excise v. Dhiren Chemical Industries (2002 (2) SCC 127). The Court held that while circulars may provide guidance, they cannot prevail over judicial decisions, especially in cases where the matter is sub judice. The judgment emphasized that benefits granted under exemption notifications should not be reopened unless explicitly stated, ensuring legal certainty for past decisions.