2004 (10) TMI 252

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....s stated that the appellants have already reversed the entire Modvat credit involved in the present appeals. He has further stated that the appeals may be disposed of as the issue involved therein stands covered by the apex Court judgment in CCE, Jaipur v. J.K. Udaipur Udyog Ltd. [2004 (171) E.L.T. 289 (S.C.)]. Therefore, after allowing the waiver of the pre-deposit of penalty amount, I proceed to....

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....he explosives used in mines as inputs by an assessee and that the apex Court has only recently in the above referred judgment, settled the law. Therefore, the penalty of Rs. 30,000/- imposed on the appellants be set aside. 4. The learned SDR has opposed the prayer. 5. I have gone through the record. It cannot be disputed that earlier the Tribunal itself had in some cases, allowed the Modvat ....