2014 (1) TMI 3

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Mall, SDR, for the Respondent. ORDER After hearing both sides, duly represented by Shri R. Subramanya, ld. Advocate and Shri S.K. Mall, ld. SDR, I find that the appellants availed Cenvat credit of duty on the capital goods to the extent of 100% in the year of receipt of said goods, instead of availing credit to the extent of 50% in the first year and balance 50% in the next financial year,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... appellant. Admittedly, the balance 50% credit was available in the next financial year. As such, the demand of duty cannot be confirmed on this account. 3. This brings me to the question of interest. The appellant having availed the entire 100% credit in the first year, whereas they were entitled to avail 50% credit, has resulted in excess availment of 50% of the credit. The said 50% cred....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... under : "3. After hearing the learned S.D.R., I find that the appellants were admittedly entitled to the Modvat credit of the entire duty paid on the capital goods. It is only the timing of taking credit which is the subject matter of dispute. Instead of availing the credit to the extent of 50%, the appellant availed the entire 100% at the time of receipt of the goods itself. As the said ....