2004 (11) TMI 469

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..... s been filed by the Revenue against the order of the Commissioner (Appeals). 2. As per the facts on records, the respondents cleared one mould, on which they have earlier taken the Modvat credit as capital goods by debiting the said credit of Rs. 70,000/- to their suppliers for reconditioning. Subsequently, on receipt of the said reconditioned mould they took the credit of Rs. 70,000/-. The Reve .....

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..... s erroneously debited by them. 3. I do not find any fallacy in the above reasoning of the appellate authority. The entire exercise is Revenue neutral and the assessee having debited the credit, though erroneously, was eligible to correct the said mistake and to reverse the debit entries subsequently. As such, no merits are found in the Revenue s appeal. The same stands rejected. Dictated and p .....

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