2008 (9) TMI 645

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....jak, SDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. -  Vide the impugned order, the Commissioner ordered recovery of Modvat credit taken by the appellant-company to the tune of Rs. 31,78,315/- imposed equal amount of penalty, on the company and imposed penalties of Rs. 5 lakhs and Rs. 10 lakhs on the Commercial Manager and Company Secretary respectively. 2. The fa....

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....The appeals are a result of this decision. 3. After hearing both the sides, we observe that the only ground on which the credit is denied and penalties imposed that the Bills of Entry under which the imported goods were cleared by M/s. Godfrey Phillips (India) Ltd. were not endorsed for diversion of the said goods to the appellant's manufacturing unit. The duty paid character of the goods in....