2015 (4) TMI 522

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....JJ. For the Appellant : Shri None For the Respondent : Shri A K Dhawan, AR ORDER Per: Ashok Jindal: After hearing the learned DR appearing for the respondent, I find that the appellant is engaged in the manufacture of alloys and non-alloys steel ingots. They procured their raw material from manufacturer M/s. Aggarwal Steel Rolling Mills & Metal Industries (hereinafter referred to as....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... registered dealer and further dealers and the appellants were covered only by the cenvatable invoices, without actually supply of the goods and M/s. ASRM had diverted best goods in the open market and also has procured the raw material from an alternative source. Accordingly, proceedings were initiated against the present appellant for denial of Cenvat credit of Rs. 58,615/- availed by them, by w....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....RM as rejected material is at par with the value of prime quality CTD bars. Further, no reasonable prudent man would use high valued goods for the purpose of melting in his furnace. 6. However, on being questioned as to whether there is any evidence showing clearance of prime quality CTD bars of M/s. ASRM to any other buyer or as to whether Revenue has shown any other alternative source of proc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ancial calculations. I find that the Revenue has alleged M/s. ASRM was selling its final product to other buyers in the domestic market, but there is virtually no evidence to that effect. Further, no proceedings stand initiated against M/s. ASRM. As regards the present appellant, they have shown receipt and utilization of raw material in their factory and have taken the benefit of Cenvat credit....