TMI Blog2008 (9) TMI 750X X X X Extracts X X X X X X X X Extracts X X X X ..... the purposes of income tax, the same would still remain as inputs and cannot be considered to be capital goods for the purposes of Central Excise law inasmuch as the same are admittedly not covered by the definition of capital goods. Extended period of limitation - Held that: - The audit objection was intimated to the appellant in December, 2005 and was replied by them in December, 2005 itself ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e time, we find that the said raw materials used in the new machineries on trail basis have resulted in emergence of the final product. The said final product was cleared on payment of duty. As such, the Tribunal s earlier decision in the case of M/s. Reliance Industries Ltd. reported in 2004 (173) E.L.T. 106 (Tri. Mum.) is not fully applicable to the facts of the case. We further note that Commis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod of limitation on the basis of audit objection. The audit objection was intimated to the appellant in December, 2005 and was replied by them in December, 2005 itself. The show cause notice was issued subsequently in the year 2007 and as such is prima facie barred by limitation. 3. In view of our above observations, we find it to be a fit case for grant of stay. Accordingly, stay petition is ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
