2000 (11) TMI 722

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....r the Respondent. [Order per : Archana Wadhwa, Member (J)]. -  Vide the impugned orders the authorities below have confirmed demand of duty of Rs. 5,32,585/- and penalty of Rs. 12,000/-. 2. Briefly stated the facts of the case are as under : - 2.2 The appellants are engaged in the manufacture of railway track construction material classifiable under Heading 73.02. The appellants....

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.... exemption under the said notification and has added the value of clearances of such waste and scrap for reckoning the value of the aggregate clearances of the appellants during the preceding financial year for the purposes of deciding the availability of Notification No. 1/93-C.E., dated 28-2-1993. Accordingly it has been held by the Revenue that during the financial year 1993-94 the value of cle....

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....rjee, ld. Advocate for the appellant and Shri A.K. Chattopadhyay, ld. JDR for the Revenue. 5. Notification No. 171/88-C.E., dated 13-5-1988 grants exemption to waste and scrap of iron subject to conditions numerated in column 5 of the table annexed to the said notification. Condition No. (i) is to the effect that provided such waste and scrap have arisen from the goods covered by Chapter 72 ....

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....e of the final products from the raw materials viz. ingots, billets, blooms etc. As such, as rightly observed by Commissioner (Appeals), irrespective of stage of operation, the fish plates, bearing plates which are finished goods and on which duties have been levied, have arisen from semi-finished iron and steel raw material. The appellants have taken the Modvat credit of duty paid on such raw mat....