2010 (12) TMI 537

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..... e Respondent. [Order (Oral)]. -  This stay petition is filed for waiver of pre-deposit of the following amounts. (i)      Demand of reversal of credit of Rs. 2,35,324/- under Section 11A and interest thereon. (ii)    Penalty of Rs. 2,35,324/- under Section 11AC. 2. Heard both sides and perused the records. 3. The confirmation of demands .....

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..... 4(5)(a) of the Cenvat Credit Rules, 2004 which reads as under : Rule 4(5)(a) : The CENVAT credit shall be allowed even if any inputs or capital goods as such or after being partially processed are sent to a job worker for further processing, testing, repair, re-conditioning [or for the manufacture of intermediate goods necessary for the manufacture of final products] or any other purpose, and it .....

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..... d rule that input as such can be sent for manufacture of intermediate goods, which are necessary for manufacture of final products, and it is not in dispute that the intermediate product i.e., oil cooler, heat exchanger were used/consumed by the applicant in his factory premises for manufacture of oil lubricating systems. If that be so, it cannot be pressed upon the assessee by the revenue to reso .....

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