TMI Blog2006 (1) TMI 278X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri M.H. Vora, Sr. Manager, for the Appellant. Shri U.H. Jadhav, JDR, for the Respondent. [Order]. After admitting the appeals against the impugned order confirming demand of duty of Rs. 44,893/- along with imposition of identical amount of personal penalty, I proceed to decide the appeal itself. As per facts on records, the appellants received various capital goods as components/pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l goods and components, spares and accessories. Inasmuch as in the present case the capital goods were in the shape of components and spares, they were entitled to full credit of 100%. They are also aggrieved with the facts that the authorities below have simply denied balance 50% credit without allowing them to take the same in the subsequent financial year. 3. After hearing the Ld. DR, I find ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which the appellants has tried to make, refers only to the fact of possession of the capital goods by the assessee, i.e. the balance credit is allowable in the subsequent financial year if the capital goods are still in the possession of the assessee. However, the said condition is not applicable in respect of the components, spares and accessories, refractories and refractory material, moulds an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egards the penalty, I find that the credit was taken on record and duly intimated to the officers. Taking of 100% credit can be on the basis of mis-interpretation of provisions of law and would not be attributed to any mala fide on the part of the appellants. As such, imposition of penalty upon them is not justified, the same is set aside. 6. Appeal is disposed off in above terms. (Dictated in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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