2004 (12) TMI 85

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..... y on inputs. Accordingly, it took credit of duty paid of about Rs. 48,000/- in respect of three consignments received from M/s. Thapar Concast Ltd., Ludhiana during July, September 1999. This credit was denied and equal amount of penalty imposed on the appellant by the Additional Commissioner on the ground that the appellants' supplier had misdeclared the products. It was also held that the goods .....

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..... it only on account of a finding in a proceeding against the supplier of the inputs that the duty has not been correctly paid. Thus variation of Modvat credit amount can be consequential only. This is not the case here. The original assessment of inputs has not been varied. Therefore, there is no error in the order passed by the Commissioner. The Revenue appeal has no merit. It is rejected.
Cas .....

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