TMI Blog2001 (12) TMI 726X X X X Extracts X X X X X X X X Extracts X X X X ..... nt. [Order]. Arguing the stay petition for waiver of pre-deposit of duty and penalty, Shri J.P. Kaushik, ld. Advocate submits that the duty demanded and confirmed thereof has arisen on account of taking Modvat credit on the strength of an invoice other than duplicate one. He submits that Modvat credit, in the instant case, was taken prior to 19-1-95. He submits that before 19-1-95 there ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at credit was correctly taken was furnished. He submits that having regard to the above submissions not only pre-deposit of duty and penalty may be waived but the appeal itself may be disposed of. 4. I have heard Shri V.K. Verma, ld. DR also. After hearing the submissions of both the sides, I note that the issue on which Modvat credit was denied have been settled by one or the other decisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roducts. 7. Regarding the challenging of denial of Modvat credit on water meter as capital goods, I note that similar issue came up before the Hon ble Madras High Court in the case of SIV Industries Limited v. CCE reported in 2001 (129) E.L.T. 48 (Mad.) = 2001 (43) RLT 523 in which the water meter which was used as an accessory to the manufacturing plant was considered to be capital goods. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessable value of the goods, rate of duty, etc., are essential particulars, therefore, for the purpose of determining this aspect, I consider it necessary to examine these facts in detail. Accordingly, this aspect is referred back to the Assistant Commissioner to examine whether the correct amount was taken as Modvat credit looking to the description of the goods, assessable value of the goods ..... X X X X Extracts X X X X X X X X Extracts X X X X
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