9911796707
TMI Blog2011 (4) TMI 474X X X X Extracts X X X X X X X X Extracts X X X X ..... cation of records of the appellants, it was noticed that the head office situated in Mumbai of the appellants was distributing input service tax credit among various factories located in different parts of the country by issuing ISD challans under Rule 7 of the CENVAT Credit Rules, 2004. Further, it was also noticed that while verifying the records of the appellants, which is one of the units of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ince the transaction is recorded on the same day and the credit also is allowed on the same day but there is a time lag in the physical receipt of the invoice. He submits that credit has been disallowed on this ground and he also submits that, as can be seen from the order, the omission has occurred only in respect of credits passed on in the last 3-4 days of the month. He submits that disallowing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ission seems to be availment of credit earlier than the date on which the unit becomes eligible. In such a case, at best, interest can be demanded and in any case no penalty has been imposed. Taking note of these factors into accounts, we consider it appropriate to hold that there is no requirement of pre-deposit in this case. Accordingly, pre-deposit is waived and stay against recovery of the CEN ..... X X X X Extracts X X X X X X X X Extracts X X X X
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