TaxTMI 
TaxTMI 
1999 (10) TMI 202
X X X X Extracts X X X X
X X X X Extracts X X X X
....tant, for the Respondent. [Order]. - The Revenue has preferred the present Reference Application praying for referring the following question of law to the Hon'ble High Court :- "In this case both question of fact and law is involved. The fact is that M/s Steel Products Ltd. a manufacturer of hamilton poles etc. have availed themselves of Modvat credits on the basis of duty paying documen....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... invoices without accompanying of the actual inputs is clearly contravention of the provisions of the Central Excise Rules, 1944. This fact of fictitious credit on the basis of fictitious invoices without receiving materials in the factory premises has not been given any importance even though the assessee on factual/legal position agreed and even the allegation was substantiated in the Order-i....
X X X X Extracts X X X X
X X X X Extracts X X X X
....show cause notice. But on separate set of proceedings against the dealers were penalty imposed by the adjudicator and the appeals by the dealers were allowed. On the very basis for imposition of penalty upon the assessee, no longer survives and accordingly the point of law has been ignored and instead benefit was extended to M/s. Steel Products Ltd. though breach of law is established and admitted....
X X X X Extracts X X X X
X X X X Extracts X X X X
....such have admitted the availing irregular Modvat credit. These evidences have also been considered by the Tribunal in the order. It is also brought to my notice by the ld. Consultant, Shri B.N. Chattopadhyay that the Tribunal had relied upon on the decision of the Tribunal in the case of Marcandy Prasad Radha Krishna Prasad (P) Ltd. wherein it was held that statutory right of an assessee cannot be....