2004 (1) TMI 515

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..... r per : Jyoti Balasundaram, Member (J)]. After hearing both sides for some time on the application for waiver of pre-deposit of duty of Rs. 61,29,476/- and penalty of Rs. 6 lakhs, we found that it was possible to decide this appeal itself at this stage. Hence after waiving pre-deposit of duty and penalty, we proceed to take up this appeal for hearing. 2. The demand has been confirmed by t .....

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..... avoid the availment of Modvat benefit and thereby inviting burden of taxation on inputs resulting in higher valuation of the goods, which was not warranted in view of the market condition. Logical conclusion comes that Modvat credit was availed as alleged in the Show Cause Notice. Reading of above clearly shows that the Commissioner has acted on a presumption that the importers must have availed .....

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