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TMI Blog2007 (3) TMI 655X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent. [Order per : M. Veeraiyan, Member (T)]. - Heard both sides on stay petition. 2. The relevant facts, in brief, are as under :- (a) The appellant company manufacture POY and, clear part of the goods on sale as partially oriented yarn (POY) and use the rest for captive consumption for the manufacture of PTY. (b) As NCCD is held to be payable on POY used for captive con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inputs. As regards the demand of Rs. 1,28,04,499/- arising out of the show cause notice dated 3-1-2006, he submitted that the appellant is eligible for the credit in the light of the decision of the Tribunal in the case of Silvasa Industries Pvt. Ltd. v. CCE, Vapi, reported in 2006 (196) E.L.T. 213 (Tri.-Mumbai). 4. We have carefully considered the submissions. It is noticed from the record tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he second issue, the learned advocate relies on the decision in the case of Silvasa Industries (supra) for contending that the credit was admissible. The same is, prima facie, misconceived because, in the present case no NCCD was paid on the inputs and, even if it were paid the credit of NCCD could have been utilized only towards payment of NCCD as per the specific provisions of Cenvat Rules, 2002 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we direct the appellant to deposit a sum of Rs. 1,50,00,000/- (Rupees One crore fifty lakhs only) within a period of 8 weeks from today failing which appeal will stand dismissed. Subject to pre-deposit as ordered above, pre-deposit of balance duty and penalty will be waived and recovery thereof stayed till the disposal of the appeal. 5. The application is disposed of accordingly. Post the mat ..... X X X X Extracts X X X X X X X X Extracts X X X X
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