2007 (3) TMI 108

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....he Revenue filed this appeal against the impugned order in so far as setting aside of penalty of Rs. 50,000/-. In this case, the respondent has taken the credit against the capital goods of full amount and utilized 50% of such credit in accordance with the restriction of quantum of utilization specified in Rule 4(2)(a) of Cenvat Credit Rules, 2002. The adjudicating authority imposed penalty of Rs.....