2013 (12) TMI 113

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....a synopsis which, in our opinion, would represent the facts briefly with relevant details. Accordingly, the same is reproduced as under:- Appeal No.   Location of the unit Period involved Date of SCN   OIO No.&date   Penalty imposed E/148/2002   Hoskote   April 2000   03/04/2001   No.21/2001-CE dt. 24/10/2001 Credit availed Rs.1,00,67,019/- Rs.31,63,241/- Rs.64,73,056/- -do-   E/149/2002   Kolar   April 2000   03/04/2001   Credit allowed Rs.71,11,292/- Rs.15,21,163/- Rs.19,17,750/- -do- E/150/2002   Whitefield   April 2000   31/03/2001 ....

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....ying in stock as on 01/04/2000, it was provided for availment of deemed credit by issue of Notification No.29/2000 CE(N.T.) dt. 31/03/2000. As per the said Notification, credit was allowed to be availed in respect of inputs received from the units which were covered under Section 3A upto 01/04/2000, at the rate of 12% of invoice value, provided the said inputs were directly received from the manufacturers and the payment for the same was made directly to the manufacturers of such units. The circular cited supra and trade notice provided for filing of declaration of the stock of the inputs/raw materials and the finished goods lying with the re-rolling mills and induction furnace units (which were under Section 3A) as on 31/03/2000. The ap....

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....on would be equal to the credit allowed by the Revenue. He points out that on 01/04/2000, the appellants had filed declaration of the stock lying with them and had also indicated the quantum of credit admissible and appellants had duty paying documents for the entire quantity. The only case of the Department is that a portion of the quantity on which credit was taken was purchased from the traders. While even during investigation when the statements were recorded, the representatives of all the three units stated that the appellant units were following the practice of storing raw materials purchased from traders and manufacturers separately and the appellants were following this practice, according to the learned counsel, to ensure that the....