9911796707
TMI Blog2011 (3) TMI 363X X X X Extracts X X X X X X X X Extracts X X X X ..... be extended at this point. We take note of the appellant’s alternative plea of Revenue neutrality and find force in the same. Even according to the Commissioner, the modvat credit is not available to the assessee. The consequence of the same is that the appellant was not in a position to use the same for the discharge of duties on their final products and as such, final products were required to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icant/appellant along with imposition of penalty of identical amount 2. After hearing both the sides, we find that the appellant is engaged in the manufacture of various glass products falling under Chapter 70 in its factory located in Kutch district. The said demand of duty stands confirmed against them for the period 2007-08 by denying them the benefit of modvat credit availed in respect of ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etained by the Revenue were being lifted under the directions of Commissioner, subject to filing an undertaking that the assessee would pay duty along with interest, if the revised return filed with the Income Tax department is not accepted and the rolling back of depreciation is disallowed by Income tax department. He, as such submits that they have admittedly filed a revised income tax return. H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... prays for allowing the stay petition unconditionally. 5. After hearing the learned DR, though we find favour with the DR s submission that the revised income tax return filed before the authorities do not stand adjudicated by them and as such, the benefit of the same cannot be extended at this point. We take note of the appellant s alternative plea of Revenue neutrality and find force in the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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