2006 (9) TMI 362

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..... Lama, J.D.R., for the Respondent. [Order per : K.K. Agarwal, Member (T)]. This is an application for waiver of pre-deposit of duty amounting to Rs. 14,11,934/- and denial of excise deemed credit availed amounting to Rs. 14,11,934/- along with a penalty of Rs. 5 Lakhs on the applicant. 2. The brief facts of the case are that the applicant have taken deemed credit as per provision of No .....

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..... ise duty there has been a short levy to the extent of Rs. 14,11,934/- for the period of March 2002 to June 2002 and excess availment of credit of equivalent amount for the purpose of basic excise duty. 3. The learned advocate for the appellants submit that as per provision of Notification 6/2002, they are entitled to take 33 1/3% or 66 2/3% of the aggregate duty of excise leviable under the Cent .....

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..... and additional duty and there is no requirement of splitting the same into basic and additional duty for the purpose of availment and discharge of duty on finished product. It is not the revenue s case that the aggregate credit taken was more than what is prescribed. We also find that the entire exercise is revenue neutral. We therefore find a prima facie case in applicants favour and accordingly .....

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