1997 (11) TMI 287

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...., Advocate, for the Appellants. Shri M. Ali, JDR, for the Respondents. [Order per : K. Sankararaman, Member (T)]. - The stay application seeks waiver of pre-deposit for the purpose of hearing of the appeal of a sum of Rs. 17,33,624/- demanded as duty and a sum of Rs. 50,000/- imposed as penalty on the applicant in terms of the order passed by the Commissioner of Central Excise, Jaipur. Th....

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....iate product, Polyamide Chips while contesting the duty demand, applicant had taken the stand before the adjudicating authority that they may be permitted to utilise the Modvat Credit earned by them on the input Caprolactum which had been reversed by them earlier on the ground that part of the ultimate product was exempted from duty. The plea for utilisation of such credit which was sought to be r....

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....pre-deposit sought in the stay application. 3. The argument was opposed by Shri M. Ali, the learned DR, who referred to the relevant findings of the Commissioner in his impugned order setting out the reasons why he did not find the plea for utilisation of credit acceptable. In particular, he referred to the authorisation of the Commissioner that the request for utilisation of credit would ....

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....pute that they arise from duty paid inputs namely Caprolactum. It was stated that what was reversed was only the duty credit paid on the Caprolactum input which was referable to the Nylon Filament Yarn cleared free of duty. To the extent that the duty demand now made in the impugned order relates to Caprolactum which should be restricted to the quantity used in the manufacture of such exempted Nyl....