2007 (6) TMI 101

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....in-Appeal dated 9-3-2006. 2. The issue involved in this case is regarding the disallowance of Cenvat credit to the respondent on the ground that the respondent had availed the Cenvat credit after a lapse of 11 months, and also the fact that the respondent had not followed the procedure as laid down in the circular. The adjudicating authority confirmed the demand and imposed penalty while ld. Co....

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....is submission that the credit availed by the respondents on 26-3-2004 was after furnishing the entire value of the stock in trade and verification by Range Officers. It is his submission that ld. Commissioner (Appeals) has come to the correct conclusion and has given the benefit, which is due to the respondent. 5. Considered the submissions made by both sides and perused the records. It is not ....

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....rtcomings of non-declaration of value and furnishing on only quantity. There is no restriction nor any time frame for availing the said transitional credit under Rule 4 read with Rule 9A of Cenvat Credit Rules, 2002. One should not last the sight that in the instant case the credit relates to transitional credit and not regular credit as goods were already received long back. Hence, strict complia....