2007 (4) TMI 52

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..... 07 in A.No. E/615/2007 - Stay Order No. 424/2007-EX.(PB) - Dated:- 24-4-2007 - [Order per : S.S. Kang, Vice-president].- heard both sides. 2. The applicant filed this application for waiver of pre-deposit of duty of Rs. 81,62,763/- and penalty of the equal amount. The applicant availed the credit in respect of capital goods and thereafter the capital goods were removed as such to other unit .....

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..... visions governing 100% EOU. In the present case, the applicants are not a 100% EOU and as per sub-rule 5 of Rule 3 of Cenvat Credit Rules which were applicable at that time, the manufacturer is to reverse the credit in respect of capital goods at the time of removal from factory. In these circumstances, the applicant has no case for waiver of pre-deposit of duty. The applicant is directed to depos .....

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