TMI Blog2002 (1) TMI 1023X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. [Order per : G.R. Sharma, Member (T)]. M/s. Jatin Tracks Ltd. have filed this appeal. Being aggrieved by the impugned order dt. 9-8-2001 passed by the ld. Commissioner (Appeals) disallowing Modvat credit taken on the strength of invoices issued by the suppliers and imposition of penalty of Rs. 60,000/-. 2. The facts of the case briefly stated are that the appellants took deemed Mod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be a part of the duty, it was only by way of penalty which the manufacturers became liable to pay, for having defaulted in discharging the appropriate duty on the inputs in time. Therefore, omission on their part to pay interest on the delayed payment of the appropriate duty on the inputs could not be made the basis for disallowing the deemed Modvat credit on those inputs, purchased from them, b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ied upon by the Counsel for the appellant. We, therefore, find that the ratio of the judgment of the Tribunal in the case of Jagan Tubes squarely covers the present case. Following the ratio of that decision, we hold that Modvat credit was correctly taken by the appellant. In the circumstances, the impugned order is set aside and the appeal is allowed. Consequential relief, if any, shall be admiss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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