2004 (1) TMI 515

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....Arun Chopra, JDR, for the Respondent. [Order per : Jyoti Balasundaram, Member (J)]. -  After hearing both sides for some time on the application for waiver of pre-deposit of duty of  Rs. 61,29,476/- and penalty of Rs. 6 lakhs, we found that it was possible to decide this appeal itself at this stage. Hence after waiving pre-deposit of duty and penalty, we proceed to take up this app....

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....that since input stage credit was available, "there was no reason to avoid the availment of Modvat benefit and thereby inviting burden of taxation on inputs resulting in higher valuation of the goods, which was not warranted in view of the market condition. Logical conclusion comes that Modvat credit was availed as alleged in the Show Cause Notice." Reading of above clearly shows that the Commissi....