2005 (6) TMI 490

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.....M. Rao, JDR, for the Respondent. [Order]. - Heard both sides. 2. The appellants filed this appeal against the order-in-appeal passed by the Commissioner (Appeals) whereby the benefit of Modvat credit of Rs. 1,46,834/- was denied and demand of this amount is confirmed and penalty of Rs. 25,000/- is imposed. 3 Brief facts of the case are that appellants purchased the Unit in q....

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....ore the Adjudicating authority, they submitted the undertaking that they are ready to undertake the liability to the previous manufacturer. Therefore, they are entitled for the credit which lying unutilised in the account of previous manufacturer. 5. The contention of the Revenue is that as per the sale deed, the Unit was taken over by the appellants without any liability and subsequent un....