TaxTMI 
TaxTMI 
2016 (8) TMI 754
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....g under Chapter sub heading No.74111000, 74072910 & 74082290 of the First Schedule to the Central Excise Tariff Act, 1985. The adjudicating authority was of the view that the assessee had wrongly availed Cenvat Credit amounting to Rs. 7,32,747/- in contravention of Rule 3(4) of the Central Credit Rules, 2004. It was the claim of the Revenue that the assessee had purchased material from one M/s V.K. Enterprises of Bhiwadi, a registered dealer who claimed to have received material from M/s Navneet Yarn Pvt. Ltd., Bhiwadi who issued two bills in favour of the assessee (M/s Multimetals Limited) for dispatch of Copper Wire. Later on, it transpired that M/s Navneet Yarn Pvt. Ltd. from whom M/s V.K. Enterprises had purchased the goods was not at a....
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....issioner, also failed and the further appeal filed by the assessee before the Tribunal too came to be dismissed by the Tribunal vide order impugned herein. 4. Ld. counsel for the appellant-assessee contended that the order of the Tribunal is perverse and the assessee is bonafide purchaser of the goods and the goods received by the assessee is duly entered in the statutory records and all goods have been transported which has been found to be in order duly supported by bills, vouchers, challan and invoices etc. The assessee had purchased the goods, received through transportation and the goods having been physically received by the assessee from M/s V.K. Enterprises, therefore, the Cenvat Credit was correctly taken by the assessee. He furth....
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....rded by the Revenue confronting with the material available with the Revenue. If the statement of Shri Bhatnagar, is considered in entirety, in our view, it is clear that the goods received were copper wire which was treated as scrap by the assessee-appellant since the assessee treats all the copper products received by it as a scrap for melting for being used to manufacture finished product. It would be appropriate to quote the questions raised by the Revenue and the reply given by Mr. D.B. Bhatnagar, President of the assessee which provides ad-infra:- "Question No.1. Please state of what percentage of Copper you had received the above said two consignments of Copper Wire from M/s. V.K. Enterprises, Bhiwadi. Please also submit the Lab te....
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....al of the answer to question No.3, the claim is not related to receipt of goods and when the input on which Cenvat Credit has been found to be irregular, then the other two issues are consequential to irregular availment of the Cenvat Credit. When M/s Navneet Yarn Pvt. Ltd. who is said to be a manufacturer of copper wire from whom M/s. V.K. Enterprises purchased the goods and in turn sold to the assessee has been admittedly found to be a manufacturer of Polyster Yarn, an entirely different product and which has been proved on record by the Revenue on the basis of the investigations carried out and confronted the same to the appellant, in our view, all these are finding of fact based on the material on record found by all the three authoriti....