2004 (12) TMI 504

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..... S. Bajaj, Member (J)]. In this appeal challenge has been made to the impugned order-in-appeal by the Revenue vide which the learned Commissioner (Appeals) has dropped the proceedings against the respondents. 2. We have heard both the sides. 3. We find that proceedings were initiated against the respondents through a show cause notice dated 14-1-1999 on the ground that they cleared IC eng .....

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..... penalty could be ordered. Whatever the Modvat credit was availed by the respondents on the inputs utilized in the manufacture of PD pumps, which were exempt from payment of duty during the relevant period, had already been reversed by them, as is evident from the impugned order itself. 4. We may also refer to the Board Circular No. 224/58/96-CX., dated 26th June, 1996 wherein it has been clarifi .....

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