2003 (6) TMI 418

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....nt. [Order]. - After examining the records and hearing both the sides, I think, the appeal itself requires to be finally disposed of. Accordingly, I allow the present application and proceed to deal with the appeal. 2. The appellants had taken Modvat credit amounting to Rs. 69,231/- on inputs in June, 1994 on the strength of an invoice issued by M/s. B.B. Enterprises (supplier of the inpu....

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....d by the original and first appellate authorities, for denying the Modvat credit, is that the inputs covered by the invoice were not lying in stock with M/s. B.B. Enterprises as on 31-3-94 and the invoice issued by Consignment Agent in respect of goods received from manufacturer after 31-3-94 was not admissible for availment of Modvat credit. It was also found by the authorities that M/s. B.B. Ent....

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....4-7-94] as persons authorised to issue modvatable invoices for the period 1-4-94 to 3-7-94. It has been clearly directed by the Board that the Assistant Commissioner concerned shall verify or cross-check the genuineness of the invoices issued by such agents as also the duty-paid character of the inputs covered by such invoices. In the instant case, admittedly, the invoice on the strength of which ....