9911796707
TMI Blog2014 (3) TMI 638X X X X Extracts X X X X X X X X Extracts X X X X ..... classifiable under Chapter 87 of the Central Excise Tariff Act, 1985. On 18.9.99, the Central Excise officers visited the respondent's factory and it has been alleged that they have not included the cost of amortization of moulds and dyes belonging to M/s. Hyundai Motors India Ltd. (in short HMIL) in the assessable value for the purpose of payment of appropriate excise duty payable on the final goods and cleared to HMIL. It is also alleged that they have wrongly availed CENVAT credit in respect of Checking fixtures and Jigs & Fixtures not owned by them. The adjudicating authority confirmed the demand of duty of Rs.6,60,040/- being the duty on amortization cost of moulds and dies and also confirmed the recovery of CENVAT credit of Rs.5,85,5 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtization cost and disallowance of CENVAT credit. In the context of ineligible CENVAT credit by Final order No.1036/05 dt. 20.7.05, this Tribunal remanded the matter to the Commissioner (Appeals) in so far as the availment of MODVAT credit on moulds was concerned and directed the Commissioner (Appeals) to pass a speaking order on the issue after giving the assessee a reasonable opportunity of hearing. It is submitted that by remand Order No.32/07 (M-IV) dt. 29.3.07, the Commissioner (Appeals) allowed the appeal of the respondent. It was held that the respondent was eligible to take MODVAT credit of the duty paid on Checking fixtures and Jigs and Fixtures supplied by HMIL. Ld. advocate submits that there is no evasion of duty and no suppress ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... they had received the moulds and dies from M/s. HMIL under 57S (8) challan; that they did not avail the credit of duty on the said moulds and dies; that they did not include the cost of amortisation of moulds and dies in the assessable value initially; that they debited a sum of Rs.3,53,537/- in their RG 23A Part II Account Sl. No.6967 dt. 8.9.99 for the period from October'98 to August'99. That they had entered into a Leave and License Agreement with M/s.HMIL for the supply of entire moulds, dies, jigs and fixtures. Shri Ravishankar also submitted the amortization cost working along with certain documents for verification. The learned advocate also submitted that the balance amount was also debited in respect of amortization cost during ..... X X X X Extracts X X X X X X X X Extracts X X X X
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