2005 (1) TMI 146

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....ti Balasundaram, Vice-President]. - The above appeal arises out of the order of the Commissioner of Central Excise (Appeals), who has disallowed the capital goods credit of Rs. 1,45,15,981/- on Circular Knitting machines and Flat Bed Knitting machines during the period February 1999 to June 1999 and reduced the penalty imposed upon the appellants herein by the Assistant Commissioner from Rs. 7.00 ....

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....ufacture of products not chargeable to duty. Hence, the bar under Rule 57R(1) is not attracted against the appellants. We find that similar issue had come up before the Tribunal in the decision of the Tribunal in the case of Commissioner of Central Excise, Bhopal v. M/s. Bhaskar Industries Limited - 2003 (54) RLT 301 and the Tribunal held that since there is no time limit for utilization of credit....