2009 (4) TMI 905

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....Shri N.J. Kumaresh, SDR, for the Respondent. ORDER A CNC lathe machine was found removed during the course of preventive checks on 30th January, 1999 from the factory premises of the appellants herein, who had not reversed MODVAT credit thereof. It was pointed out by the departmental officers that the assessee was required to reverse MODVAT credit of ₹ 2,45,100/- availed on the said machin....

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....efore the Hon'ble Karnataka High Court which vide its order dated 11-4-2007, remitted the case to the Tribunal for consideration of interest only for the delayed period of payment of duty. This is how the appeal comes up bssefore us for hearing once again. 2. We have heard both sides. We find that under Rule 57U credit is not admissible on capital goods removed as such and an assessee is req....