2004 (4) TMI 375

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..... Kamra and G.K. Mahajan, Advocates, for the Respondent. [Order]. -  In this appeal filed by the Revenue against the impugned order-in-appeal, the issue relates to the denial of the Modvat credit to the respondents on G.I. Sheets and Silicon Spray, besides imposition of penalty on them equal to the amount of the Modvat credit wrongly availed by them. 2. I have heard both sides a....

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....d Commissioner (Appeals) in this regard, by referring to the definition of 'Inputs' in Rule 57AA(d), which indicates that the 'inputs' include all goods used in or in relation to the manufacture of the final product whether directly or indirectly and whether contained in the final products or not. But, in my view, no capital out of this definition of the 'inputs' can be made by the respondents. Th....