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TMI Blog2004 (2) TMI 556X X X X Extracts X X X X X X X X Extracts X X X X ..... e Respondent. [Order per : V.K. Agrawal, Member (T)]. - M/s. Recron Synthetics Limited have filed this Appeal against order-in-Appeal 410/2002, dated 27-8-2003. 2. Shri B.L. Narsimhan, learned Advocate, submitted that the Appellants manufactured polyester partially oriented yarn, polyester textured yarn and polyester dyed yarn; that Polyester dyed yarn was exempted from payment of du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o March, 1998 and reduce the penalty to Rs. 20,000/-; that the Commissioner (Appeals) also did not accept their contention that they were eligible to avail Modvat credit of duty paid on Polyester textured yarn, dyes and chemicals used in the manufacture of Polyester dyed yarn which was cleared without payment of duty; that there is no dispute that they had paid duty on the textured yarn which in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e benefit of Notification No. 67/95-C.E. 4. We have considered the submissions of both the sides. The facts which have not been disputed by the Revenue are that before 1-3-97 dyed yarn was exempted subject to the condition that it should have been manufactured out of textured yarn on which appropriate duty of excise has already been paid. It has also not been disputed by the Revenue that whe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment of duty. We, therefore, hold that the Appellants are eligible to avail of Modvat credit of the duty paid on the inputs. It has been submitted by the learned Advocate for the Appellants that the amount of Modvat credit available to them is more than the duty confirmed against them. In view of this, no penalty is also imposable. We accordingly, allow the Appeal. X X X X Extracts X X X X X X X X Extracts X X X X
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