2006 (8) TMI 96

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..... rns used in the manufacture of castings in the foundry will come under the purview of "Cenvat Inputs" or "Capital Goods". 2. Both the adjudicating authorities and the Commissioner (Appeals) held that moulds and dyes as defined under Rule 2(b)(iv)' of Cenvat Credit Rules, 2001 are to be treated as capital goods and are equated with the term 'pattern'. 3. The adjudicating authority held that the C .....

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..... ner (Appeals) has permitted Cenvat credit to the extent of 50% (allowed) though goods are consumed, in terms of Board Circular. Thus, considering the facts and circumstances of the case and submissions made by both sides, I am of the view that the penalty of Rs. 50,000/- is on high side and reduce the same proportionately. Therefore, further reduced to the penalty of Rs. 10,000/- as against Rs. 50 .....

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