2006 (2) TMI 10

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..... . - No representation for the third time for the respondents despite notice. Today's is the last chance given to them and the same has not been availed of. Hence I proceed to dispose of the appeal after examining the records and hearing learned Jt. CDR. 2.It appears from the records that the respondents had taken Modvat credit of Rs. 2,47,406/- in the year 1999 on the strength of 36 invoices iss .....

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..... ier unlike in the instant case. After reading the Tribunal's order in R.S. Industries (supra), I find that the appellant therein had taken input-duty credit on the strength of invoices issued by M/s. Prerna Metal Industry (input-supplier) who had themselves availed similar credit on the same goods on the basis of bogus invoices. The Department booked a case of fraud against the party who issued th .....

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..... iable on the strength of invoices earning duty payment particulars. The credit taken by them was of such duty. On these facts, I find, the view taken in R.S. Industries (supra) is squarely applicable to the instant case. Learned Commissioner (Appeals) has correctly applied the law. 5.In the result, the Revenue's appeal gets dismissed. (Dictated and pronounced in open Court) - - TaxTMI - TMI .....

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