9911796707
TMI Blog2004 (2) TMI 501X X X X Extracts X X X X X X X X Extracts X X X X ..... e Respondent. [Order]. The appeal of the appellants is directed against the recovery of interest of Rs. 16,085/- and penalty of Rs. 5,000/- imposed by the lower authority. The part of the order recovering CENVAT credit of Rs. 3,65,107/- is not contested. The order of the Assistant Collector was challenged before the Commissioner (Appeals), who affirmed the said order. Hence the appeal to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the adjudicating authority. 4. It is pleaded by the appellants that the matter was not clear and only after they came to know about non-availability of Modvat credit, in respect of inputs used in the manufacture of M.S. Tanks, they reversed the said credit taken wrongly. The ld. DR on the other hand plead that the CBEC Circular of 15-1-2002 was not the only piece of information regarding the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e interest liability will not arise. 8. So far as penalty is concerned in this particular case, considering the facts and circumstances that there was a possibility of a mis-understanding regarding the availability of credit of duty paid on the components of M.S. Tanks, which was undoubtedly covered by the Term Plant and Machinery in terms of old definition of capital goods. I take a lenient v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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