2001 (2) TMI 378

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....adhyay, JDR, for the Respondent. [Order]. -  The prayer in the present Stay Petition is for dispensing with the condition of pre-deposit of duty of Rs. 8876/- confirmed and penalty of Rs. 1,000/- imposed on the applicants/appellants vide Order-in-Original No. 6/ Demand/99, dated 25-2-1999 of Assistant Commissioner of Central Excise, Dum Dum Division, which was upheld vide Order-in-Appea....

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....the Modvat credit. The contention of the appellants is that it is permissible to take the defective goods for reprocessing and as such it cannot be said that the said Printing Ink was taken for captive consumption. They further contend that there is no embargo on the Modvat credit earned on any final product even when the inputs in question have been used or not. 3. Shri P.C. Das, ld. Advo....