9911796707
TMI Blog2007 (9) TMI 96X X X X Extracts X X X X X X X X Extracts X X X X ..... cture of cotton fabrics. On the introduction of Central Excise duty on grey fabrics with effect from 1-4-2003, Government of India issued a Notification No. 25/2003 dated 25-3-2003 whereby one time deemed credit on grey fabrics lying in stock as on 31-3-2003 was allowed. Subsequently, amended Notification was issued whereby the assessee was to declare the stock as on 1-4-2003. 3. The Revenue thereafter issued a clarification dated 28-3-2003 to the effect that in pursuance to the Notification No. 25/2003 dated 25-3-2003, the trade is informed that in case the declared stock as on 31-3-2003 is kept in a place other than the registered/to be registered premises, the address of the said premise or premises where such stock is kept, must be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not be denied as the stock of grey fabrics is lying in their stock. 8. The contention of revenue is that in the declaration, the appellant declared the stock of grey fabrics lying in a godown at Nayagaon, and in some cases the address is given as in a godown or with the transporter. Therefore, in this situation, the appellant had not complied with the condition of deemed credit order. The contention is that it has been clarified by the Board that in case the stock of grey fabrics is kept in a place other than any registered/to be registered premises, the address of the said premise or premises where such stock is kept, must be declared in the stock register. As the appellants had simply mentioned at a godown at Nayagaon or with the tran ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion register. The appellant has declared the stock in a godown in Nayagaon or with the transporter. No address of the godown or address of the transporter is given. In these circumstances, I find no infirmity in the impugned order and the demand is upheld. 11. In respect of penalty, as the levy on grey fabrics was introduced for the first time with effect from 1-4-2003, therefore, it is not a case for imposition of penalty. The penalty is set aside. 12. In the appeal filed by the revenue, the contention is that the appellants are liable to pay interest. The contention is that present respondent had not utilized the credit. Therefore, they are not liable to pay interest. The respondents relied upon the decision of Godrej Soaps Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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