https://www.taxtmi.com/caselaws?id=95874 Modvat credit availed on duty-paid copper wire rods must be reversed, or an equivalent amount paid, when the inputs are sold or diverted from intended use. Sale of the rods without corresponding debit made retention of the credit unlawful, supporting recovery of the credit and penalties on the firms; individual penalties were reduced on the stated facts. Separately, drawing or reducing the gauge of duty-paid copper wire did not create a new and distinct commodity and therefore did not constitute manufacture. Duty and consequential penalty could not be sustained for that activity and were set aside. en-us Fri, 08 Dec 2000 00:00:00 +0530 Thu, 15 Dec 2011 15:49:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=95874 Modvat credit availed on duty-paid copper wire rods must be reversed, or an equivalent amount paid, when the inputs are sold or diverted from intended use. Sale of the rods without corresponding debit made retention of the credit unlawful, supporting recovery of the credit and penalties on the firms; individual penalties were reduced on the stated facts. Separately, drawing or reducing the gauge of duty-paid copper wire did not create a new and distinct commodity and therefore did not constitute manufacture. Duty and consequential penalty could not be sustained for that activity and were set aside. Case-Laws Central Excise Fri, 08 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=95874