2009 (1) TMI 688

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ricol Ltd. has filed the captioned appeal. They seek Waiver of pre-deposit and stay of recovery of the amounts of interest of Rs. 72,309/- (in Appeal No. E/463/2008) and Rs. 1,28,342/- (in Appeal No. E/464/2008) demanded by the original authority and sustained in the impugned orders. The applicants had removed credit-availed capital goods, jigs and fixtures, to their vendors who manufactured and s .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed in Rule 4(5)(b) of CENVAT Credit Rules, 2004 (CCR) enabling an assessee to transfer capital goods to its job workers was also available when such capital goods were removed to suppliers of components. The learned Counsel relies on the Tribunal s decision in the case of Monica Electronics v. Commissioner of Central Excise, New Delhi reported in 2000 (123) E.L.T. 1047 (Tribunal), wherein it was h .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... credit-availed capital goods such as jigs, fixtures and moulds to a job worker. There is no requirement that in such cases credit has to be reversed. From a perusal of the decision of the Tribunal in Monica Electronics case (supra), it appears that the provisions also apply to removal of capital goods to a supplier of components to the assessee manufactured using inputs procured independently. I .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X