2007 (7) TMI 535

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..... t. [Order per : P.G. Chacko, Member (J)]. - In the impugned order, ld. Commissioner has denied Cenvat credit of Rs. 23,63,534/- to the appellants in respect of capital goods received during the years 2003-04 and 2004-05. He has also imposed a penalty of Rs. 2 lakhs on them. After examining the records and hearing both sides, we note that the lower authority has relied on the Tribunal s dec .....

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..... -Del)] affirmed by the Supreme Court vide 2002 (146) E.L.T. A309. After considering the submissions, we note that in the case of Surya Roshni Ltd. (supra) eligibility for capital goods credit was held to be determinable with reference to the time of receipt of the capital goods in the factory. At such time, the final product might be exempt from payment of duty and consequently Modvat credit of th .....

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