2013 (7) TMI 716

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.... ORDER Per: M.V. Ravindran: This Stay Petition is filed for waiver of pre-deposit of duty of Rs.1,82,64,636/-, interest thereof and equal amount of penalty. 2. The above said amounts have been confirmed by adjudicating authority as in-eligible CENVAT Credit availed on cement, TMT bars, MS angles, channels, beams, racks, plates etc. 3. Ld. Counsel submits that the issue involved in thi....

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.... Larger Bench in the case of Banco Product (India) Ltd 2009 (235) ELT 636 (Tri-LB). It is his submission that the application for waiver of pre-deposit of the amounts involved is pressed home on the point of limitation as the Audit party raised this objection in October 2010 while the Show Cause Notice was issued to them on 15.07.2011. 4. Ld. D. R., on the other hand, would submit that the judg....

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....rds, as regards the merit, we find that the issue is contentious one, though the Larger Bench of the Tribunal in the case of Vandana Global Ltd (supra) has held against the assessee, the said judgment is challenged before the Hon'ble High Court of Chattisgarh and the outcome is still awaited. As regards the limitation point, we find that most of the credit has been taken by the appellant prior to ....