2008 (12) TMI 615

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....ant, for the Appellant. Shri J.A. Khan, SDR, for the Respondent. [Order per : Chittranjan Satapathy, Member (T)]. -  Heard both sides. 2. Shri Arun Kr. Nandy, learned Consultant appearing on behalf of the Appellants states that in so far as the impugned order relates to the allegation of Modvat credit availed irregularly, the Appellants have reversed the credit and they never....

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....the Authorities below have rightly disallowed the credit as there is no provision for taking credit in respect of material used for supporting capital goods or for repairing the same. The credit is allowed only in respect of inputs and capital goods used in the manufacture of finished goods. As regards the penalty, we are of the view that the Appellants have a good case in so far as it relates to ....