2004 (12) TMI 548

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....ellant. Shri S.C. Pushkarna, JDR, for the Respondent. [Order per : V.K. Agrawal, Member (T)]. -  M/s. B.M.A. Zinc Pvt. Ltd. have filed this Appeal against Order-in-Appeal No. 136/2004 dated 7-4-2004 by which the Commissioner (Appeals) has disallowed the Modvat credit to them on the ground that the inputs were not received by them in the factory. 2. We heard Shri M.S. Gupta, l....

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....has been subsequently retracted; that no inquiry has been made by the Department from M/s. Paradise Trading Pvt. Ltd. who had supplied the raw material to them. Finally, he submitted that no sensible man would take credit on the goods to the extent of Rs. 5 lakhs and pay the goods manufactured out of that raw material to the extent of more than Rs. 7 lakhs; that if the inputs were not received by ....