2001 (5) TMI 386

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..... n the present appeal Modvat credit of Rs. 21,773.11 (Rupees twenty-one thousand seven hundred seventy-three and paise eleven only) and Rs. 1,142.90 (Rupees one thousand one hundred forty-two and paise ninety only) has been disallowed to the appellants and penalty of Rs. 2,000/- (Rupees two thousand only) has been imposed. The said Modvat credit has been disallowed on the ground that at the time of .....

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..... inputs were in the processing stage at the time of visit of the officers. I have heard Shri A.K. Chattopadhyay, learned JDR, for the Revenue. 3. After hearing both sides I find myself unable to appreciate the contentions of the appellants. The appellants, at the time of visit of the officers have admitted the stand and have also agreed to pay the credit availed by them in respect of the said sho .....

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