2002 (12) TMI 186

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..... ior Departmental Representative for Revenue. The learned Advocate submitted that the Appellants were engaged in the manufacture of Iron and Steel products; that the Commissioner has demanded the reversal of Modvat credit in respect of 76.225 MT of Ferro Nickel as the Officers, on visit of their factory on 25/26-2-2000 found that instead of ferro nickel, there were some metal lumps/pieces in the stock; that they had availed of the Modvat credit of the duty paid on the said material; that the Appellants were themselves cheated by the supplier who had supplied the sub-standard material and mixed other material with Ferro Nickel; that the dispute is pending with the supplier; that these facts are also reflected in their Balance Sheet. The learn .....

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..... n scrap stock yard were heaps of soil on which some quantity of scrap which included empty drums, machine scrap, wire, etc. were lying for the purpose of weighment and it was loaded in a truck; the whole scrap was found to be 16 MTs; that this was admitted by S/Shri Yadav and Chaudhary, representatives of the Appellants; that they had also admitted that besides scrap in yard, it was not stored anywhere in the factory premises. 3.3 After considering the submissions of both the sides, we find that the Appellants have not succeeded in proving that the iron and steel scrap found short was available in the factory premises. The Commissioner has based his findings on the Panchnama dated 26-2-2000 recorded by independent Panchas in the presence .....

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..... fter going through the production/ despatch/stock reports contained in File No. 31, admitted that the said reports were the basis for making entries in RG I Register; that he had also confirmed that 243.860 MT was shown in RG I Register as Production/ Despatch Report of alloy steel and non-alloy steel and that 243.860 MT of SS Cast billets were cleared as Alloy Steel and non-Alloys steel to their sister concern M/s. Indore Steel Iron Mill Ltd. The learned Senior Departmental Representative emphasized that the charge has been proved on the basis of Appellants' own records and admission made by the Vice-President. 4.3 We observe that the Appellants have not succeeded in rebutting the evidence relied upon by Revenue. They have also not con .....

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