2016 (6) TMI 509

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....Singh, DR ORDER Appeal has been filed against Order-in-Appeal dated 18.10.2005, which upheld the Order-in-Original dated 30.11.,2004, in terms of which CENVAT credit of Rs. 3,45,198/-was disallowed and ordered to be recovered along with interest and penalty of Rs. 10,000/- was also imposed. 2.  The appellant was engaged in the manufacture of polyester texturised yarn, twisted texturi....

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....n that no credit on input namely POY was taken, the credit taken on POY contained in polyester texturised yarn and twisted texturised yarn, dyed polyester texturised yard, etc. further manufactured therefrom was no admissible. 3.  The appellant has contended that (i) POY did not cease to be a input merely because polyester texturised yarn manufactured out of POY was cleared on payment of d....

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.... in Grey Tex, Yarn (loose) 3169.20 32,030 16,015 7,207 0 55,252   (B) POY contained in Grey Tex, Yarn (loose) 1005.80 10,594 5,297 2,384 0 18,275 2. Total Grey Tex, Yarn (Loose) (A+B) 4175.00 42,624 21,312 9,591 0 73,527 3. Grey Twisted (W.I.P.) (Manufactured out of Texturised Yarn) 9882.00 24,705 0 3,70....

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....exturised yarn/contained in the texturised polyester yarn which was cleared upto and including 31.03.2003 on payment of concessional rate of duty on the condition that no credit of POY used in manufacture of polyester texturised yarn was taken as per Notification No. 6/2002, dated 01.03.2002. Once the polyester texturised yarn was cleared upto 31.03.2003 on payment of duty at concessional rate sub....