9911796707
TMI Blog2007 (4) TMI 52X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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 units. The applicant paid duty at the depreciated value of the capital goods. The Revenue is of the view that as per the provisions of Cenvat Credit Rules, the manufacturer who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 deposit whole of the amount of duty within a period of 8 weeks. On deposit of the above mentioned amount, the pre-deposit of penalty is waived for hearing of the appeal. Adjourned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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