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2005 (3) TMI 509 - AT - Central ExciseExtract: .......alue of final product namely, torches. Therefore, there is no reason for disallowing the Modvat credit on the items in question. We, therefore, set aside the impugned order disallowing the credit and imposing penalty and allow the appeal. Since we allow the appeal on merits, we are not recording of the arguments that demand is barred by limitation.
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