9911796707
TMI Blog2003 (2) TMI 117X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner of Central Excise whereby the demand of Rs. 20,87,680/- was confirmed. A penalty of Rs. 12 lakhs was imposed under Rule 173Q of the Central Excise Rules and penalty of Rs. 10,34,043/- was imposed under the provisions of Rule 57-I(4) read with the provisions of Rule 173Q of Central Excise Rules. 2. Brief facts of the case are that the appellants are engaged in the manufacture of Wires ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quite sometime, these were considered as less value items or no value items. This exercise is being done to arrive at the correct financial position of the company to be produced before the Share-holders. If in the opinion of the Auditor, the certain quantity of the raw-material/consumables were not usable on that date, the value of the same is written off on the Audit Report for the purpose of r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se the inputs on which the credit was taken was written off due to any reason may be of no value or less value. As such the inputs on which the credit has been taken are not used in the manufacture of the final product and are written off in their record, therefore, the appellants are not entitled for the credit of such inputs. Appellants relied upon the Board Circular dated 16-7-2002. In this cir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enied. The facts of the present case are different from the case relied upon by the appellants. In the present case the adjudicating authority gave a specific finding of fact that inputs were not physically available even after being written off from the account nor there is any evidence that the goods were used in the manufacture of the final products. In view of the above discussion, we find no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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