9911796707
TMI Blog1998 (2) TMI 253X X X X Extracts X X X X X X X X Extracts X X X X ..... he pre-deposit and the appeal itself to be taken up for disposal, as the matter lies in a short compass. 2. By Show cause notice dated 5-1-1995, the appellants were called upon to explain as to why Modvat credit of Rs. 3,55,02,000/- should not be disallowed and recovered from them under Rule 57-I, of C.E. Rules, 1944. The reasons given are that during the scrutiny of the records of the appellants for the months of July, 1994 to Oct., 1994 it revealed that they had availed and utilised the Modvat credit wrongly on input `Caprolactum to the extent of the amount already indicated on the basis of invoices issued by Marketing Division of Gujarat State Fertilizers Company Limited, Laxmi Ganj Mandi, Gwalior (depot of the supplier) and Depot of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... one way and there is no dispute regarding duty paying character of such input. The Commissioner after hearing did not accept their plea and has conferred the duty and has also imposed the penalty of Rs. 35 lakhs. 4. When the matter came up for hearing on stay application after due consideration a Misc. Order was passed in Misc. Order No. M/192/97-NB, dated 3-10-1997 by which the Revenue was directed to verify the documents filed before the Tribunal and got a report from the concerned Commissioner. By the note order dated 9-1-1998, it was again directed that additional particulars furnished by the party should be perused and detailed report be filed. 5. The learned Advocate, at the outset, mentioned that they had furnished all the detai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the invoices are required to be scrutinised and all the details if found correct and in accordance with law then the Modvat credit cannot be denied. He submits that the input has been duty paid and there is no dispute with regard to duty paying nature of the inputs and about the availability of Modvat credit on the said input. 7. The learned DR has resisted the arguments as well as the alleged verification done by the department. He has also filed a detailed written submission in which it has been stated that furnishing the details in invoices are mandatory requirements and non-mentioning of the same will disentitle the appellants from grant of Modvat credit. 8. We have considered the submissions. We notice that there is no dispute ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
