https://www.taxtmi.com/caselaws?id=119322 Decoiling steel coils and slitting or cutting them into sheets does not amount to manufacture, as earlier decisions had already settled the issue in favour of the assessee. On that legal basis, receipt of sheets against documents describing HR/CR coils did not justify denial or reversal of Modvat credit where the movement and identity of the goods were accepted. The Tribunal also held that once the credit demand failed on merits, the consequential penalty on the registered dealers under Rule 173Q(bb) could not be sustained. The impugned order was set aside and relief was granted to the assessee. en-us Thu, 25 Aug 2005 00:00:00 +0530 Tue, 10 Jul 2012 13:26:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119322 Decoiling steel coils and slitting or cutting them into sheets does not amount to manufacture, as earlier decisions had already settled the issue in favour of the assessee. On that legal basis, receipt of sheets against documents describing HR/CR coils did not justify denial or reversal of Modvat credit where the movement and identity of the goods were accepted. The Tribunal also held that once the credit demand failed on merits, the consequential penalty on the registered dealers under Rule 173Q(bb) could not be sustained. The impugned order was set aside and relief was granted to the assessee. Case-Laws Central Excise Thu, 25 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119322