2005 (12) TMI 505

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....dent. [Order]. -  Heard both sides. The issue relates to Modvat credit on inputs under Rule 57-I and interest under Rule 57-I(3) and penalty of Rs. 25,000/-(Twenty-five thousand). The ld. Counsel submitted that irrespective of the fact that chapter heading is different in the declaration even then the minor variations in heading cannot disqualify the Modvat credit. The main point of denial ....

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....ded period for Modvat credit cannot be denied. (ii)    CBEC Circular No. 441/7/99-CX., dated 23-2-1999 to show that the Modvat credit should not be denied on procedural lapses. 2. M/s. Kamakhya Steels (P) Ltd. v. Commissioner of Central Excise, Meerut - 2000 (121) E.L.T. 247 (Tribunal - LB) where the declaration was filed and Larger Bench denied and matter kept for re-examina....

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.... factory of manufacturer intending to take credit is satisfied that duty due on the inputs has been paid and such inputs have actually been used or are to be used in the manufacture of final products, and such Assistant Commissioner shall record the reasons for not denying the credit so in each case]. 3. M/s. Monnet Industries Ltd. v. CCE, Meerut - 2003 (58) RLT 39 (CEGAT-Del.) page-39. This....