2005 (6) TMI 12

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..... against the order-in-appeal passed by the Commissioner (Appeals) whereby the demand of Rs.34,694/- is confirmed. After denying the Modvat credit in respect of capital goods which were treated as 'obsolete'in the record of the appellant. A penalty of equal amount was also imposed under Section 11AC of the Central Excise Act. 3. The contention of the appellant is that the credit was taken in respe .....

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..... ital goods on which credit has been taken is being treated by the appellant has obsolete, therefore, these are not being used in the manufacture of final product. In these circumstances, I find no infirmity in the impugned order whereby the credit on such obsolete capital goods were denied. However, taking into the facts and circumstances of the case as the capital goods due to passage of time bec .....

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