2013 (12) TMI 688

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....V. Murthy, JJ. For the Appellant: Mr. G. Shivadass, Advocate For the Respondent: Mr. Ganesh Havannur, Additional Commissioner (AR) ORDER Per: P. G. Chacko; This application filed by the appellant seeks waiver of pre-deposit and stay of recovery against the adjudged dues including an amount of Rs.42,63,285/- being the MODVAT credit denied to the appellant. After perusing the records ....

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....nt in their factory. The learned Commissioner (Appeals) also quoted from a circular of the Board (which was issued in the context of the 1995 Budget) which had clarified to the effect that any equipment purchased by a manufacturer of excisable goods but not used within the factory would not be modvatable as 'capital goods' under Rule 57Q and that MODVAT credit would not be disallowed so long as th....