9911796707
TMI Blog2006 (12) TMI 407X X X X Extracts X X X X X X X X Extracts X X X X ..... - This is an appeal against the order of the Commissioner (Appeals) No. VP/210/SRT-I/2005, dated 29-4-2005 which confirmed the reversal of Cenvat credit as ordered by the OIO no. dated 27-1-2005 but reduced the penalty. 2. Heard both sides. 3. The relevant facts, in brief, are as follows. (a) M/s. Shiv Enterprises, a proprietary concern is engaged as a dealer o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to Rs. 81,03,777/- in the name of M/s. Ankit Textiles. (e) As the credit taken on the basis of invoices issued by M/s. Ankit Textiles which are not genuine and authenticated, M/s. Shiv Enterprises was ordered by the original authority to pay back Rs. 7,36,707/- along with interest and he also imposed Rs. 7,36,707/- as penalty on M/s. Shiv Enterprises and Commissione ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... visages that whoever takes credit should take precautions that the person who has passed on credit has indeed paid the duty at his end. 6. I find that M/s. Ankit Textiles has given their address as U-9, New Ashirvad Square, Opposite Sosyo Circle, Udhana Magdalla Road, Surat. They have taken provisional registration having Provisional Registration No. 370104/M/537/2003, dated 16-7-2003. Owner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nputs, is passed on as a credit directly by the manufacturer of inputs to manufacturer of final goods. As a dealer, who is empowered to pass on the credit by becoming an intermediary between the manufacturer of inputs and manufacturer of finished goods, he is required to take reasonable precautions. Credit passing is not just on receiving certain papers from the input manufacturer and distributing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tify and take action, if not already done, to recover the credit from the manufacturer/producer who has taken and availed the credit on the basis of invoices issued by M/s. Shiv Enterprises. In addition, the department may also consider causing appropriate action under other laws in force. (d) The penalty of Rs. 2 lakhs (Rs. Two lakhs only) on M/s. Shiv Enterprises as upheld by Commissioner is fu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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