2006 (3) TMI 427

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....ri J.P. Gregory, Jt. CDR, for the Respondent. [Order per : P.G. Chacko, Member (J)]. - The lower authorities denied CENVAT credit of Rs. 47,89,219/- to the appellants in respect of machined castings for the period September, 2000 to March, 2003 and also imposed on them a penalty of Rs. 1.00 lakh. The present application seeks waiver of pre-deposit and stay of recovery in respect of the duty ....

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....ed that there was no bar for a manufacturer to remove the inputs or capital goods as such for export under bond. Circular No. 283/117/96-C.X., dated 31-12-1996 issued by the Board also had clarified thus : "Clearance of inputs as such for export under bond can still be treated at par with the 'final product' and the manner of utilization of credit in such cases will be governed by the provision....