2002 (3) TMI 528 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi rejected the appeal regarding Modvat credit disallowed due to fraudulent invoices issued by M/s. IOC, Kota. The appellants failed to establish the duty paid nature of the goods covered by the invoices, leading to the denial of Modvat credit amounting to Rs. 48,329.54. The appeal was rejected as the invoices were found to be dummy invoices with the same serial number, violating Modvat rules.