2007 (8) TMI 597

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....resh, SDR, for the Respondent. [Order]. - M/s. Lakshmi Machine Works, Coimbatore has filed the subject appeal and an application for waiver of pre-deposit and stay of recovery of the dues as per the impugned order. After hearing both sides on the application, the requirement of pre-deposit is dispensed with and the appeal is taken up for final disposal. 2. The facts of the case are t....

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....penalty of Rs. 10,000/- under Rule 15(1) of Cenvat Credit Rules, 2004. Assessee has filed the application and appeal against this order. After hearing both sides on the application, the requirement of pre-deposit is dispensed with and the appeal is taken up for disposal. 3. Ld. counsel for the appellants submits that the provisions requiring reversal of credit equal to the credit originall....

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....at 'used capital goods' were not 'capital goods as such'. The Tribunal, in passing the above decision, relied on the decision of the Bangalore Bench in Madura Coats Ltd. v. Tirunelveli [2005 (190) E.L.T. 450 (T) = 2005-TIOL-891-CESTAT-Bang.], wherein it was decided that the assessees were not required to pay duty when they had sold 'used capital goods'. 4. Ld. SDR reiterates the findings i....