9911796707
TMI Blog2013 (12) TMI 1082X X X X Extracts X X X X X X X X Extracts X X X X ..... ontended that initially they claimed the rails as capital goods and accordingly, capitalized the same in the Books of Accounts, but for the subsequent periods, the rails were claimed as inputs under Rule 2 (k) of Cenvat Credit Rules, 2004 - Following M/s. SAIL, DURGAPUR STEEL PLANT Versus COMMISSIONER OF CENTRAL EXCISE, BOLPUR [2013 (11) TMI 1411 - CESTAT KOLKATA] - the applicant directed to depos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d goods does not fall under the ambit of inputs and/or capital goods in terms of Rule 2 (k) and Rule 2 (a) of the Cenvat Credit Rules, 2004. 3. The contention of the Applicant is that the Applicant Company is an integrated steel plant for manufacture of various iron, steel and allied products falling under different Chapters 72, 73, 74, 86, 23 etc. of the Central Excise Tariff Act, 1985. The Rai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... their Statement of Accounts and Balance Sheet. The Applicant had also not denied the fact of reflecting the said Rails in the account of capital goods initially which later they claimed as input as per Rule 2 (k) of the Rules. The contention is that the impugned Rails were, therefore, admittedly not inputs but capital goods. The contention is that otherwise also these rails are ineligible to cenv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ircumstances, we direct the applicant to deposit 25% of the cenvat credit of Rs.1.51 Crores, within a period of eight weeks from today and report compliance on 15.07.2013. On deposit of the said amount, the balance amount of dues adjudged would stand waived and its recovery stayed during pendency of the appeal. Failure to deposit the said amount would result in dismissal of the appeal without furt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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