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2005 (2) TMI 141 - SC - Central ExciseDemand and penalty - Revenue neutrality - whether the appellant- assessee was entitled to pay duty on inputs which had been declared to be duty free and then claimed Modvat credit in respect of the goods manufactured out of the such inputs which themselves were also exempted from duty - Held that:- appellant had in fact paid the duty on the procured components for the junior tractors and that the credit was not reversed ultimately when the junior tractors were cleared. That the appellant had violated the provisions of Rule 57C and 57F of the Central Excise Rules is also not questioned - duty demanded by the respondent as well as penalty for availing credit were valid - Decided in favour of assessee.
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