2016 (4) TMI 1194

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....the appellants Sh. G.M. Sharma, AR for the respondent Per: Ashok Jindal The appellants are in appeals against the impugned order wherein Cenvat Credit availed by the appellants has been denied consequently duty was demanded alongwith interest and various penalty has been imposed on all the appellants. 2. The facts of the case are that appellant procured certain inputs from their Gaziab....

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....led to avail the Cenvat Credit Goods. To support this contention the Ld. Counsel relied on the decision of the MDS Switchgear Ltd. Vs. Commr. Of C. Ex., & Cus., Aurangabad, 2001 (132) ELT 405 (Tri-Mum) which has been affirmed by the Apex Court, reported in Commissioner of Central Excise & Customs Vs. MDS Switchgear Ltd, 2008 (229) ELT 485 (SC). On the other hand, Ld. AR reiterated the finding of t....

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....ion that in fact there was no loss of revenue. It accepted the appeal by recording the following reasons:- Reason is given by the appellants for the alleged inflation of the value of the intermediate goods are logical. What was required of the Commissioner was to examine the quantum of the loading of the assessable value by the Modvat credit on the earlier inputs. That exercise has nowhere been....