2001 (5) TMI 386

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.... Shri A.K. Chattopadhyay, JDR, for the Respondent. [Order]. - In the present appeal Modvat credit of Rs. 21,773.11 (Rupees twenty-one thousand seven hundred seventy-three and paise eleven only) and Rs. 1,142.90 (Rupees one thousand one hundred forty-two and paise ninety only) has been disallowed to the appellants and penalty of Rs. 2,000/- (Rupees two thousand only) has been imposed. The sai....

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....tes the same reasoning before me. It has also been argued that some of the inputs were in the processing stage at the time of visit of the officers. I have heard Shri A.K. Chattopadhyay, learned JDR, for the Revenue. 3. After hearing both sides I find myself unable to appreciate the contentions of the appellants. The appellants, at the time of visit of the officers have admitted the stand ....