2005 (1) TMI 492

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..... fter examining the records and hearing both sides, I am of the view that all the three appeals can be decided at this stage itself. I, therefore, waive predeposit of the duty amount and proceed to decide all the three appeals summarily. 2. The issue involved in this case is that DM Water (input) has gone into the manufacture of steam and the team, which is an exempted product, has been sold by t .....

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..... am of the considered opinion that they are required to reverse the Modvat credit taken on the input, namely DM Water, which has gone into the manufacture of the steam and on that quantity, which has been sold to their sister concern. They are required to reverse the Modvat credit only on DM Water to the extent which has gone into the manufacture of the steam sold to their sister company and they a .....

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