2002 (9) TMI 475

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..... e Respondent. [Order per : G.R. Sharma, Member (T)]. Arguing the stay petition for waiver of pre-deposit of duty and penalty Shri Kapil Vaish, ld. Chartered Accountant submits that the applicant is a Central Excise registration holder for manufacture of sugar, molasses, ethyl alcohol and rectified spirit, etc. They were taking Modvat credit on molasses. Molasses is consumed in manufactur .....

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..... llegation of the Department was that the credit earned on molasses could not have been utilised for clearance of duty on sugar/press mud. The Addl. Commissioner disallowed Modvat credit of Rs. 30 lakhs. When the applicant went up in appeal before the Commissioner (Appeals) he upheld the order of the Addl. Commissioner. 2. Ld. Chartered Accountant submits that the applicant was entitled to transf .....

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..... eposit of duty and penalty may be waived. 3. Shri M. M. Dube, ld. DR opposes the request and submits that though the applicant was having only one Central Excise Registration but the fact remains that the applicant had different divisions and was maintaining separate records and since for all purposes, they were two different units, therefore, they could transfer the amount only in terms of Rule .....

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