2014 (4) TMI 715

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.....CDR ORDER Per Archana Wadhwa: The prayer in the application is to dispense with the condition of pre-deposit of Rs.18,55,953/- and penalty of identical amount. The said duty stands confirmed against the appellant-applicant by denying the benefit of modvat credit of duty paid on the inputs obtained by them from M/s Jyoti Steels registered dealer. The Revenue's case is that the said M/s Jy....

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....m. It also stands revealed in the said invoices that the goods were procured by M/s Jyoti Steels from M/s Jaikara Steel Rolling Mills on the same date and were directly delivered to the appellant. Learned Advocate also brings our attention to the statement of Security Guard of M/s Jaikara Steel Rolling Mills deposing that the factory was working for the last four to five months and fabrication ite....

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....evidence on record is required to be taken into consideration for arriving at a final conclusion. Suffice it to say, at this interim stage, the appellants have not been able make out a good case in their favour so as to allow the stay petition unconditionally. As regards limitation, we find that in such cases of fraud, the extended period is available to the Revenue. 6. As regards the financial....