1997 (8) TMI 210

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.... on the above issue :   (1) A. No. E/441/96-NB Vishal Steel Rolling Mills   (2) E/442/96-NB Vivek Re-rolling Mills   (3) E/443/96-NB Bajrang Steel Rolling Mills   (4) E/444/96-NB Vivek Re-rolling Mills   (5) E/445/96-NB Bajrang Steel Rolling Mills   (6) E/452/96-NB Indian Mechanical Works 3. The facts of the case are that the appellants are a re-rolling mill without a furnace or melting arrangements. They procure materials from the market and claim the benefit of deemed Modvat credit in terms of Government of India Order No. TS/86/94-TRU, dated 1-3-1994. In respect of ingots and re-rollable materials of iron and steel purchased from....

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.... that the amount of duty and the rate of duty was indicated in the cash memo. He submits that since invoice assessment was introduced with effect from 1-4-1994 and M/s. Bharat Petroleum was not fully conversant with the requirement of law, therefore they issued the cash memo indicating the amount of duty paid on the petroleum products covered by the cash memo. He submits that subsequently particulars of the duty paying documents were also co-related and, therefore, the ld. Counsel submits that the co-relation was complete and prays that Modvat credit amounting to Rs. 11,791/- may be allowed. 6. Ld. Counsel also submitted that penalties have been imposed on the appellants in respect of A. No. E/441/96-NB and No. 445/96-NB and prays t....