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2014 (9) TMI 69
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....both sides, I find that the appeals may be decided at this stage. Accordingly, after disposing of the stay applications filed by the Revenue and the Assessee, I proceed to dispose of the appeals. 2. Heard both sides and perused the records. 3. The issue involved in this case is whether the amount equivalent to the credit originally taken has to be reversed or not for the clearance of the cap....
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....By the impugned order, the Commissioner (Appeals) allowed the appeal of the assessee subject to payment of duty with interest on the depreciated value and set aside the penalty. 5. Revenue filed appeal against the impugned order to restore the adjudication order. On the other hand, the assessee filed appeal to set aside the impugned order. 6. The learned AR on behalf of Revenue submits that ....
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....ital goods as such on depreciated value has been decided by the Larger Bench of the Tribunal in the case of CCE Vs. Navodhaya Plastic Industries Ltd.- 2013 (298) E.L.T. 541 (Tri. - LB) She further submits that cotton yarn was optionally exempted from payment of duty under Notification No. 30/2004-CE dated 9.7.2004 and they started availing this exemption from 1.8.2006. She submits that they h....