9911796707
TMI Blog2008 (12) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... rder]. The demand for Rs. 5,59,963/- being excess amount of Cenvat credit availed on capital goods with equal amount of penalty and interest as applicable has been confirmed against the appellants on the ground that engraved printing cylinders falling under Chapter 84 obtained by the appellants should have been treated as capital goods whereas the appellants have treated the same as inputs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and it is useful only for a particular product and for a particular number of runs. Therefore it cannot be said to be a part of machinery even though it falls under Chapter 84. Therefore he submits that on the basis of the above two contentions viz. defacement of invoice and their argument that the cylinder is a consumable, the appellants had a bona fide belief on their eligibility to the credit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppellants were clearly aware that cylinders were capital goods falling under Chapter 84 and hence invocation of misdeclaration/suppression cannot be faulted. 3. After considering rival submissions, I agree with the ld. Advocate for the appellants that extended period could not have been invoked in this case in view of the defacement of the invoices relating to the cylinders up to 30-3-2000 and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ull amount of Cenvat credit that has been taken. Even in respect of capital goods, the credit is available to the extent of 100% but in two financial years. Therefore there is a need to re-quantify the demand and it has to be limited only to the interest. For these two purposes, the matter has to be remanded back to the Original Adjudicating Authority with a direction that appellants shall be give ..... X X X X Extracts X X X X X X X X Extracts X X X X
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