2005 (4) TMI 511

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...., Advocate, for the Appellant. Shri Sanjay Singhal, JDR, for the Respondent. [Order per : Moheb Ali M., Member (T)]. - These stay applications arise out of the order of the Commissioner of Central Excise & Customs, Nashik, who in the impugned order disallowed credit taken on the capital goods, imposed penalties on the company and its Dy. Manager. The credit disallowed on this count is Rs.....

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.... 2. We find that the rule position is clear on the subject. The evidence indicates that when the balance credit of 50% was taken, the machine was not installed. The ld. Advocate's contention that the applicants have installed a part of the machinery (upto a value of Rs. 20 lakhs) and therefore are entitled to the credit to that extent has to be gone into when the appeal is taken up. However....