2010 (11) TMI 396

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....with Ms. Sonia Gupta, Senior Consultant, for the Appellant. Shri R.K. Verma, JDR, for the Respondent. [Order per : Rakesh Kumar, Member (J)]. - The appellants are engaged in the manufacture of Bulk Drugs/Drugs chargeable to central excise duty. They also availed Modvat credit in terms of the provisions of Central Excise Act, 1944. The period of dispute in this case is from May, 1994 to Ju....

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....s of Board's Circular No. B-22/67/86-TRU dated 9-12-1986. The show cause notice in addition to recovery of alleged wrong modvat credit of Rs. 80,64,129/- also proposed imposition of penalty on them under Section 173Q(1)(bb) of the Central Excise Rules, 1944. The show cause notice was adjudicated by the Asstt. Commissioner vide order-in-original dated 30-4-2003 by which he dropped the proceedings. ....

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.... modvat credit had been taken, had not been declared in the modvat declaration filed under Rule 57G or that the bills of entry under which the goods in respect of which cenvat credit had been taken had been imported, are not in the name of the appellants; that the only objection of the Department is that on the bills of entry no declaration regarding the appellant's intention to avail modvat credi....

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....cise rules pertaining to the Modvat credit. 5. We have carefully considered the submissions from both the sides and perused the records. In this case, the modvat credit amounting to Rs. 80,64,129/- of the Additional Customs duty paid on the goods imported under 11 bills of entry had taken. There is no allegation that bills of entry are not in the name of the appellants or that the inputs i....