2007 (4) TMI 89

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..../- being Cenvat credit allowed in respect of inputs lying in stock or in process or contained in final products lying in stock under Rule 11(2) of the Cenvat Credit Rules, 2004, and imposing penalty of Rs. 50,000/- under Rule 15 of the said Rules. 2. The appellant had admittedly exercised the option for exemption under Notification No. 8/2003 which granted exemption from payment of duty to S.S.....