2007 (8) TMI 216

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....dymade garments falling under Chapter sub-heading 62.01 of the Central Excise Tariff Act, 1985. In the wake of Notification No. 2512003 C.E. (N.T:), dated 25-3-2003 withdrawing deemed credit facilities extended to manufacturers of textiles and textile articles etc. and grant of credit to assessees during transition considering the stock of raw materials, work-in-progress and finished goods the app....

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....ceedings. On appeal filed by the Department, the Commissioner of Central Excise (Appeals) confirmed the' demand of interest of Rs. 1,24,150/- and imposed penalty of Rs. l,50,000/- in the impugned order. 2. Ld. Counsel for the appellants submits that the appellants had intimated the credit they would be taking vide their letter dated 7-6-03 and that they received clarification about the exact en....

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.... reiterates the findings contained in the impugned order. 4. After carefully considering the case records and the submissions made by both sides, I find that, in the instant case, the appellants had taken the I excess credit to the tune of Rs 15,07,474/- in April 2003 as they had not received timely clarification in April 21)03 from the Revenue Despite the appellants seeking clarification as to....