2006 (2) TMI 586

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..... Katiyar, SDR, for the Respondent. [Order]. - Heard both sides. 2. The appellants are in appeal against the impugned order passed by Commissioner (A), Central Excise, Pune on 18-3-2004 which upheld the Order-in-Original confirming the penalty and interest under Rule 57-I(4) read with Section 11AC and interest under Rule 57-I(5) read with Section 11AB of the Act for not effecting rev....

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....ut, they also have submitted the Bills of Entry for defacing by Range Supdt. on 15-12-1998 and the same was defaced. 4. On 9-7-1999, Anti-evasion squad visited the appellants' factory and asked them to reverse the credit taken as the goods were rejected, accordingly, entire amount was reversed on 16-7-1999. Therefore, a Show-Cause-Notice was issued to show cause as to why Modvat/Cenvat cre....

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....tory at relevant time, but only they have taken up the matter with the manufacturers situated in China through their supplier about the raw material and further there is no provision of law which directs the reversal of the credit when the goods are still lying in their factory. It is their contention that the goods were utilized in one or other manner in the manufacture of final product or they m....