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2004 (3) TMI 176 - CESTAT, NEW DELHI
Cenvat/Modvat - Penalty - Interpretation of Rules - Held that: - the Modvat credit on the inputs lying in stock as well as contained in finished goods lying in stock as on 1-3-2003 is not available to the Respondents - as the issue involved is one of interpreting the Modvat Rules no penalty is imposable on the Respondents - appeal allowed - decided partly in favor of respondent.