2003 (10) TMI 508

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.... Appellant. Shri H.C. Verma, JDR, for the Respondent. [Order]. -  Appellants M/s. Pepsico India Holdings Private Ltd. are engaged in the manufacture of aerated water. They imported sugar which is one of their inputs. At the point of import, they availed credit of basic excise duty as modvat. In August 2000, they removed 210.47 Qtls. of imported sugar for sale to a local customer. At ....

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....uch, as if that sugar was manufactured in the appellant's factory. Their submissions before the Adjudicating Authority failed. 2. Consequently, demand of Rs. 77,865/- for AED and Rs. 29,463/- against cess was confirmed and penalty of Rs. 5,000/- was also imposed. In Order-in-appeal, the Commissioner has confirmed duty demand, whereas penalty was set aside. 3. Appellants have strong....