2005 (5) TMI 399

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.... Shri Randhir Singh, JDR, for the Respondent. [Order per : S.S. Kang, Vice-President]. -  Heard both sides. 2. Applicants filed this application for waiver of pre-deposit of duty of Rs. 7,36,345/- and penalty of the equal amount. In this case applicants are engaged in the manufacture of Electrical Equipment and were availing the benefit of Modvat credit in respect of the input....

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....ent of duty. Applicants relied upon the decision of the Larger Bench of the Tribunal in the case of Commissioner of Central Excise, Rajkot v. Ashok Iron & Steel Fabricators, reported in 2002 (140) E.L.T. 277 (Tri.-L.B.). The applicants also submitted that appeal filed by the Revenue is dismissed by the Hon'ble Supreme Court reported in 2003 (156) E.L.T. A212. 5. Revenue relied upon the dec....