2000 (9) TMI 277

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....for the Appellant. Shri S.K. Das, JDR, for the Respondent. [Order per : G.R. Sharma, Member (T)]. -  Shri R. Sudhinder, ld. Counsel arguing for waiver of pre-deposit of duty and penalty submits that the applicant had taken credit of duty on the imported goods before installation in terms of Rule 57Q(3). He submits that there was no time restriction under Rule 57Q(3); that the provisi....

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....ins to denial of Modvat credit on spares. He submits that even if it is considered that the provisions of Rule 57Q(7) shall be applicable to the imports in the instant case, spares will not be covered. Ld. Counsel submits that the admitted position in the instant case is that the goods were actually installed and even if they are directed to reverse credit taken before installation, credit will be....

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....o the goods in instant case. 3. Regarding the unit being a sick unit ld. DR submits that so far BIFR is only investigating the matter and has not yet declared the company as a sick unit. He, therefore, prays that the applicant may be directed to deposit the entire amount of duty and penalty. 4. We have heard the rival submissions. We have also perused the various interpretations an....