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TMI Blog2013 (12) TMI 1082X X X X Extracts X X X X X X X X Extracts X X X X ..... isra: This is an application for waiver of pre-deposit of cenvat credit of Rs.1.51 Crores and equal amount of penalty imposed under Rule 15 (2) of the Central Excise Rules, 2004 read with Section 11AC of the Central Excise Act, 1944. 2. The Applicant are engaged in the manufacture of iron and steel products. The Department denied them the Credit of Rs.1,51,63,176/- availed on Rails alleging that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... products are transported to and from one production unit to another unit in their large integrated steel plant. The contention is that the CENVAT Credit availed on Rails were also used for movement of overhead cranes and treated as accessories to such cranes. 4. The contention of the learned AR appearing for the Revenue is that the procurement of Rails had been initially capitalized by the Applic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t for the subsequent periods, the rails were claimed as inputs under Rule 2 (k) of Cenvat Credit Rules, 2004. We find that in similar facts and circumstances, this Tribunal has directed the applicant to predeposit of cenvat credit of Rs.9.00 lakhs for the earlier period against the cenvat credit dues of Rs.26.00 (twenty six) lakhs (approx.) vide Stay Order No.S-652/Kol/2012 dated 04.07.2012. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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