TaxTMI 
TaxTMI 
TaxTMI 
2015 (12) TMI 253
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....hahdara, Delhi - 110 095 (hereinafter referred to as appellant company) are engaged in manufacture of copper rods from copper ingots by rolling process. Shri Sushil Kumar Jain is the Director of the appellant company. The period of dispute in this case is from 2005-2006 to 2007-2008. There are two allegations against the appellant company. The first allegation is that during the period of dispute they have taken Cenvat credit of Rs. 5,50,50,489/- on the basis of bogus invoices of copper ingots issued by M/s V.K. Metal Works, Jammu without actually receiving any goods. The Cenvat credit demand of Rs. 5,50,50,489/- is on this basis. The second allegation against the appellant company is that during the period of dispute they have under report....
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....partment for early hearing of the stay application. 2. Heard both the sides in respect of stay applications. 3. Shri B.L. Narasimhan, Advocate, the learned Counsel for the appellant, pleaded that so far as the Cenvat credit demand of Rs. 5,50,50,489/- is concerned, the same is based on the allegation that this credit has been taken on the basis of invoices for copper ingots issued by M/s V.K. Metal Works, Jammu, who was not manufacturing any copper ingots and was only issuing bogus invoices without supply of any copper ingots, that on the basis of this allegation, the Commissioner, Central Excise, Jammu had initiated proceedings against M/s V.K. Metal Works for denial the benefit of Notification No. 56/02-CE and recovery of duty of Rs. 42....
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....ng down of the furnace requiring re-heating and thus consuming electricity without rendering any output; occasional tripping of fuses, stalling the production process and requiring re-heating of the furnace etc. and that these factors have not been considered by the Commissioner at all, that there is no justification for adopting the power consumption norm of 346 units per MT of rolled products, that merely on the basis of power consumption the allegation of duty evasion by taking recourse to under reporting of the production cannot be made, that in this regard he relies upon the judgment of Honble Allahabad High Court in the case of RA Casting Pvt. Ltd. vs. CCE, Meerut - I reported in 2009 (237) E.L.T. 674 (Tri. - Del.), that the Revenue'....
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....rs, and that the transport company M/s Kanpur Kashmir Roadways was also not found to be existing in Jammu. He, therefore, pleaded that Cenvat credit demand of Rs. 5,50,50,489/- is backed by concrete evidence on record. With regard to the demand of Rs. 32,06,93,486/- based on the power consumption norm, he pleaded that the reasons given by the appellants for vide variation in power consumption are not convincing and, hence, the Commissioner has correctly confirmed this duty demand by adopting power consumption norm of 346 units per MT. He, therefore, pleaded that this is not the case for waiver from the requirement of pre-deposit. 5. Shri Narasimhan, Advocate, in rejoinder with regard to the allegation of vehicles used being non-transport v....
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....M/s Kanpur Kashmir Roadways holding that the allegation of non-existence of the transporter is prima facie not sustainable. 5. We have considered the submissions from both the sides and perused the records. 6. Cenvat credit demand of Rs. 5,50,50,489/- against the appellant company is based on the allegation that this Cenvat credit had been taken on the basis of the invoices issued by M/s V.K. Metal Works, Jammu while M/s V.K. Metal Works, Jammu were not manufacturing any goods and had issued only bogus invoices. However, the Tribunal in respect of the case against M/s V.K. Metal Works has vide stay order dated 05/2/15 has waived the requirement of pre-deposit of the duty demand, interest and penalty and had stayed its recovery by taking a....