2004 (6) TMI 533

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..... r the Respondent. [Order per : S.L. Peeran, Member (J) (Oral)]. For the purpose of hearing the appeal, appellant is required to pre-deposit duty of Rs. 85,66,019/-. They had taken Modvat credit in terms of Rule 7(1)(b) of Cenvat Credit Rules, 2002 in respect of supplementary invoice issued by M/s. Hindustan Petroleum Corpn. Ltd. (HPCL). The Commissioner in the impugned order has held tha .....

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..... ribunal rendered in the case of Eicher Limited clearly applies to the facts of this case and hence there was no need to reverse the credit or pay the amount as they have rightly taken the Modvat credit on the supplementary invoice. 3. Heard ld. SDR, Shri L. Narasimha Murthy, who reiterated the Department contention and prayed for putting the appellants on terms. 4. On a careful consideration w .....

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..... and Limited [2001 (134) E.L.T. 647 (Mad.)]. In view of the Tribunal s judgment and the provision of law noticed from Rule 7(1)(b) of Cenvat Credit Rules, 2002 prima facie the appellants have rightly taken Modvat credit. Therefore, the stay application is allowed as the issue is covered. The appeal is required to be taken up for out-of-turn hearing on 10th September, 2004. - - TaxTMI - TMITax - .....

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