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TMI Blog2015 (10) TMI 1552X X X X Extracts X X X X X X X X Extracts X X X X ..... at credit thereon fully. But as per Rule 3(7) of Cenvat Credit Rules, 2004, the appellant was entitled to take cenvat credit as per the formula prescribed under Rule 3(7) of Cenvat Credit Rules. The show cause notice was issued on 18.2.2011 to allege that during the period June, 2007 to April, 2009, the appellant has taken cenvat credit wrongly and not as per formula prescribed under Rule 3(7) of Rules. The proceedings were initiated by way of show cause notice. Matter was adjudicated and excess cenvat credit availed by the appellant was denied and Cenvat credit which is within the period of limitation was paid by the appellant and same was appropriated in demand for the later period is confirmed along with interest and equal amount of pena ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a report and therefore the matter be adjourned. She further submits that appellant has supplied the record which is to be examined. Therefore same cannot be examined at this stage. On merits, she submits that as the appellant was aware that he is not entitled to take cenvat credit fully as per formula prescribed under Rule 3(7) of CCR, 2004. Therefore they have taken inadmissible cenvat credit. 6. Heard the parties. Considered the submissions. 7. On last date of hearing, the learned AR sought time on same ground and the time was granted but the learned AR could not get reported from the department. The report was never called by the Bench and is not required for consideration. Therefore, I proceed with case to decide on its merits. 8. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... jection for non-inclusion of amortized cost of moulds and dies in the assessable value of the goods cleared by them. It is also evident from the audit report brought on record by the lower appellate authority that during the course of audit, the following documents were scrutinized viz., (a) purchase orders issued on the respondents by M/s. Bajaj Auto Ltd., (b) Challans and invoices issued by M/s. Bajaj Auto Ltd., under the cover of which the moulds and dies were sent to the respondents and (c) invoices issued by the respondents under Rule 52A under the cover of which the goods manufactured by them were sent to M/s. Bajaj Auto Ltd. We further find that the challans and invoices on which M/s. Bajaj Auto Ltd. had supplied the moulds and dies ..... X X X X Extracts X X X X X X X X Extracts X X X X
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