9911796707
TMI Blog2013 (10) TMI 56X X X X Extracts X X X X X X X X Extracts X X X X ..... as by account payee cheques - Those merchants were found to have filed return of income also - The Commissioner (Appeals) could not have held against the assessee citing a ground only that the assessee had not maintained production record in particular form. Whether the challans were of non-existent firms or not was a question which was to be determined on the basis of material in that regard - The Tribunal has on consideration of relevant material and by drawing conclusions therefrom held against the Revenue - They are the findings based on appreciation of facts and material - We are in agreement with the findings recorded by the Tribunal - The findings being factual and the Tribunal being a final fact finding authority, no substantial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... It was on the basis of receipt of grey fabrics purportedly supplied by one M/s. Aanchal Synthetics. The amount of deemed credit was utilized to pay duty on the final goods stated to have been manufactured and exported on behalf of said M/s. Aanchal Synthetics. M/s. Aanchal Synthetics claimed and obtained rebate on eight consignments. Subsequently, it was found that the said merchant had obtained the rebate on the basis of false export documents and as per the investigation, M/s. Aanchal Synthetics had never supplied any grey fabrics and the transactions between the respondent and the said merchant were merely paper transactions without any movement of goods. 3.1 A show cause notice dated 24-4-2007 was issued to the respondent for wrongly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ufacturer. Unlike subsequent period when credit taken was of duty paid, in this case the credit taken was deemed credit and only weaver s challan was required and goods were cleared without payment of duty. Manufacturer was required to deposit 1/3 of the duty from PLA compulsorily and 2/3rd was deemed credit. The credit was deemed and not linked to payment. Further, it is also to be noted that summons were issued after 3-4 years and from the address it can be seen that some of the trading firms may have left the place. On the other hand it is the appellant s claim that they have maintained lot register and there was ledger entry and record of payments received from merchant manufacturers by account payee cheques and they have filed returns ..... X X X X Extracts X X X X X X X X Extracts X X X X
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