2008 (7) TMI 314

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..... igibility of credit under capital goods doesn’t have such restriction – further submit that importing the restriction in R. 6(3) to credit available by R. 6(5) is not legally correct – prima facie case in favour of appellant – recovery stayed - E/1291-1292/2008 - 754-755/2008-EX(PB), - Dated:- 21-7-2008 - S/Shri M. Veeraiyan, Member (T) and D.N. Panda, Member (J) S/Shri S.S. Gupta and V. L .....

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..... ng of credit of 20% of the tax payable shall be applicable to all credits accruing on account of input/input services/capital goods/17 services specified under Rule 6(5) has demanded the duty and also imposed equal amount of penalty on the applicant. 3. Learned Advocate submits that the restriction on utilization of credit under Rule 6(3) applies to only credit accruing on input and input serv .....

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..... ent with the views expressed by the learned Advocate arid hold that the applicant has made out a prima facie case in their favour for waiver of dues. Accordingly we waive the same and stay recovery thereof till the disposal of the appeals. 6. In view of the high stakes involved, we direct that the appeals be listed for final hearing out of turn on 3-10-2008. (Order dictated and pronounced in .....

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