https://www.taxtmi.com/caselaws?id=34022 The Appellate Tribunal CESTAT, Chennai, ruled in favor of the assessees in a case involving irregular availment of Modvat credit and clandestine clearances of bright bars. The tribunal found that the conversion of steel black bars into bright bars did not constitute manufacture for excise duty purposes, as per the Vee Kayan Industries case. Consequently, the demands for duty, Modvat credit, and interest were deemed invalid, leading to the dismissal of penalties imposed on the assessees. The revenue's appeal to deny the benefit of Section 4(4)(d)(ii) of the Central Excise Act was also dismissed due to the unsustainable nature of the demands. en-us Mon, 17 Nov 2008 00:00:00 +0530 Mon, 06 Jul 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34022 The Appellate Tribunal CESTAT, Chennai, ruled in favor of the assessees in a case involving irregular availment of Modvat credit and clandestine clearances of bright bars. The tribunal found that the conversion of steel black bars into bright bars did not constitute manufacture for excise duty purposes, as per the Vee Kayan Industries case. Consequently, the demands for duty, Modvat credit, and interest were deemed invalid, leading to the dismissal of penalties imposed on the assessees. The revenue's appeal to deny the benefit of Section 4(4)(d)(ii) of the Central Excise Act was also dismissed due to the unsustainable nature of the demands. Case-Laws Central Excise Mon, 17 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34022