2008 (9) TMI 579

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..... ma, ASGI, for the Respondent. [Judgment per Deepak Gupta, J.]. - This Excise Reference has been admitted on the following question of law:- "Whether the applicant being a bona fide purchaser is entitled to Modvat Credit in view of the fact that the gate passes were duly endorsed and the payment is made through Demand Draft?" 2. The brief facts of the case are that the petitioner-company is enga .....

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..... iginal consignors M/s. Gold Star (P) Ltd. and M/s. Ninayak Steel Udyog were non-existing and bogus companies. The adjudicating authority withdrew the benefit of Rs. 44,665/- availed off by the petitioner and imposed penalty of Rs. 20,000/-. 3. In appeal filed by the Company, the CEGAT upheld the decision of the appellate authority in so far as denial of the credit was concerned. However, the pena .....

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..... imed in respect of the good for which excise duty has already been paid. In the present case, there is no evidence on record to show that the so-called manufacturers had ever deposited any excise duty on the material sent by them to M/s. H.P. Enterprises which finally ended up with the petitioner. If duty had, not been paid, there was no question of claiming credit under the MODVAT scheme. The com .....

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