2003 (12) TMI 428

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..... Wadhwa, Member (J)]. After hearing Shri B.J. Mookherjee, ld. Advocate for the appellants and Shri A.K. Mondal, ld. SDR, for the Revenue, we find that vide his impugned order, the Commissioner of Central Excise, Bolpur has rejected the Cenvat credit of Rs. 49,26,266.00 availed by the appellants on the inputs during the period 7-6-95 to 20th March, 1996 and 18th March, 1997 to 14th January, 1 .....

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..... er, he submits that in the facts and circumstances of the case, the imposition of high penalty equivalent to the duty amount is not justified inasmuch as the appellants being public sector undertaking did not have any mala fide intention to evade duty. Accordingly, he prays that the stay petition as also appeal be allowed. He also submits that though the duty was raised after the period of six mon .....

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