2002 (1) TMI 439

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....dent. [Order]. - The appellants have made a prayer for deciding the stay petition on merits. Accordingly, I have heard Shri T.K. Kar, ld. SDR for the Revenue and have gone through the impugned order. 2. The total amount of duty confirmed against the appellants is to the extent of Rs. 96,985/- and penalty of Rs. 20,000/- has been imposed upon them. In the Budget Bulletin of 1999, the ....

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.... are not applicable. 3. For better appreciation, I reproduce the relevant portion of para 4 of the said Explanatory Notes as under :- "The assessee will now be eligible to take 100% credit in both the above cases w.e.f. 28-2-1999. It may be noted that the restriction with respect to availing credit does not apply not only in respect of inputs received on or after 28-2-99 but also in res....