2008 (8) TMI 225

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... Shri M.M. Mathkar, JDR, for the Respondent. [Order]. - As the appellant had already deposited the duty amount of Rs. 23,957/-, I dispense with the condition of pre-deposit of penalty and interest and proceed to decide the appeal itself, inasmuch as, a short issue is involved. 2. The dispute relates to availment of Modvat credit in respect of capital goods received by the appellant durin....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....by the Deputy Commissioner vide which he confirmed interest amount of Rs. 18,815/- and also imposed penalty of Rs. 10,000/-. The said order of the Deputy Commissioner was appealed against by the assessee as well as by the Revenue for enhancement of penalty. Commissioner (Appeals) vide his impugned order rejected the assessee's appeal but allowed the Revenue's appeal by enhancing the penalty equiva....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....of interest and is ready to pay the same. 4. I find force in the above contention of the learned Advocate. Without expressing any opinion as to whether the interest would be leviable on the quantum of Modvat credit which remains unutilized by them till the date of their entitlement, I direct the Authorities to calculate the interest from the date of availment till 1-4-2001, when they were admit....