2013 (10) TMI 1319

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....it, Advocate, for the Appellant. Shri G.P. Thomas, AR, for the Respondent. ORDER [Order per : M.V. Ravindran, Member (J)]. - This stay petition is filed for the waiver of pre-deposit of an amount of Rs. 4,46,090/- confirmed as ineligible Cenvat credit, interest thereof and equivalent amount of penalty. 2. Heard both sides and perused the records. 3. On perusal of the recor....

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....considered view, there cannot be any denial of Cenvat credit to the appellant in the case in hand as, there is no dispute as to the fact that the goods are eligible for availment of Cenvat credit. 4. We find that the entire case of the Revenue seems to be misplaced and the issue is totally confused. Accordingly, we allow the application for the waiver of pre-deposit of the amounts involved....

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....the value of the goods cleared by claiming benefit under notification 29/2004 is misdirected, inasmuch as, it is on records that the appellant has availed the Cenvat credit of all the items of capital goods. It is also on record that appellant has taken credit of 50% of the Central Excise duty in the first year and balance 50% in the second year. We find that the Cenvat credit availed by the appel....