2010 (3) TMI 1051

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..... ORDER Heard both sides. 2. Appellant filed this Appeal against the impugned order whereby demand of ₹ 4,49,41,419.00 (Rupees Four Crores Forty Nine Lakhs Forty One Thousand Four Hundred and Ninteen only) was confirmed and penalty of equal amount was imposed on the firm as well as penalty of ₹ 10,000/- (Rupees Ten Thousand only) imposed on the Managing Director. The demand i .....

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..... ble goods which was cleared on payment of appropriate excise duty. For the final product Applicant had paid the central excise duty more than Rupees Six crores during the relevant period. The Applicant also submitted that in the case of their loan licencee M/s. Savera Pharmaceuticals Pvt. Ltd. v. Commissioner of Central Excise, Aurangabad - 2008 (222) E.L.T. 457 (Tri.-Mumbai) the Tribunal has set .....

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..... laxo Pharmaceuticals admitted their mistake and reversed the Modvat credit. 5. We find that in this case the supplier of inputs M/s. Quest International (India) Ltd. is paying central excise duty in respect of Fruit Flavour Mix which is an input for the Appellant in the manufacture of their final product. The Appellants were availing credit in respect of duty paid on the inputs which is further .....

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