2011 (7) TMI 461

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..... vide which he has set aside the penalty imposed upon the respondent while confirming the demand against them, Revenue has filed the present appeal.   2. After hearing both sides, I find that the issue relates to the availment of MODVAT Credit in respect of TMT Bars and SS Wire Mesh and LDO used for construction and as fuel. The said MODVAT Credit was availed by the respondent by treating th .....

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..... , it was rightly availed in terms of declaration of law by precedent decision of the Tribunal.   4. I agree with the above contention of the ld.Advocate. Admittedly, during the relevant period, the decisions holding the same were in favour of the assessee. As such, it can be said that availment of credit by the respondent was in accordance with the law and it cannot be said that the same was .....

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