2014 (12) TMI 319

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....ellant : Mr. Y. Sreenivasa Reddy, Advocate For the Respondent : Mr. N. Jagadish, Superintendent (AR) ORDER Per : B.S.V.MURTHY Vide Misc. Order No.20751-20752/2014 dated 20.3.2014, this Tribunal had directed the appellant to deposit the entire amount of CENVAT Credit availed by them with interest and report compliance on 10.6.2014. Against this order, the appellants approached the Hon'b....

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....n turn cleared goods under 34 invoices covering CENVAT credit of Rs. 74,93,250/- to Y. M. Drugs and Chemicals and goods under 5 invoices for CENVAT credit of Rs. 13,13,250/- to Pavan Drugs and Chemicals. Against both these manufacturing units who are sister companies of the appellant, proceedings have been initiated for recovering the CENVAT Credit availed by them without receiving the inputs and ....

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....ore the fact that they have deposited the amount need not be taken into account. Further, we find that after seeing the entire transactions were on paper only, it would be fair to take into account the amount already paid by them. We hope that appellants shall keep the other two units informed that the deposits made by them have been taken note of and taken into consideration while deciding the st....

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....mount without taking into account the payments made by the group companies, we would be requiring the appellant to deposit an amount which is already collected by the Revenue, because of not receiving the input. When the two group companies deposit the amount, and when the appellant has taken the credit of the duty-paid on such goods, the cycle is completed and the goods have completed the cycle a....