2003 (9) TMI 591

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....t. [Order]. - This appeal is against the denial of Modvat credit on - (i)       Data Processing machine (ii)     PVC Cable which has been denied on the following reasons - The appellants were heard in the matter on 17-12-97 wherein they were represented by Shri. P.R. Joshi, Consultant and others. He submitted that they have been d....

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....ven reasoned finding for not acceding to their plea. In the absence of the same, the matter cannot be reopened in appeal. However, as regards penalty, since this was a matter of interpretation, when the scheme of Modvat credit on capital goods was newly introduced, a penalty in such situation is not called for and the same is accordingly set aside. 2. After considering the written commu....