2006 (3) TMI 497

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..... r the Respondent. [Order]. Heard both sides. In the instant case M/s. J.K. Steel Alloys Bhavnagar have purchased gas cylinders (Oxygen Gas) for cutting the plates/making ready to material goods for furnace. The assessee treating the same as capital goods availed Modvat credit, which is saught to be denied by the Department. The contention of the Department is that the cylinder falls un .....

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..... pellants. Accordingly the appellants are directed to make pre-deposit of Rs. 30,000/- (Thirty thousand only) as against confirmed duty of Rs. 98,560/- (Ninety-eight thousand five hundred sixty only) and Rs. 25,000/- (Twenty five thousand only) towards penalty. Compliance is to be reported on or before 3rd of May 2006, subject to which further pre-deposit is waived and stay is granted. 3. Applica .....

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