2010 (11) TMI 160

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.... Shri Anil Khanna, SDR, for the Respondent. [Order (Oral)]. - Heard both sides on the stay petition. 2. The applicant is a manufacturer of sponge iron. They have used Ashok Leyland truck for movement of materials within the factory of production. They have taken credit of duty paid on the said trucks as capital goods. Show cause notice was issued alleging taking of credit as capital ....

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....submits that trucks should be treated as inputs and credit allowed. At any rate, there is no justification for imposition of penalty, she claims. No plea of financial hardship raised before me. 4. Learned SDR reiterates the finding and reasoning of the Commissioner (Appeals). 5. I have carefully considered the submissions of both sides and perused the records. The decision in the case o....