2016 (12) TMI 1617

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....AR) for the Revenue ORDER Per: Shri P.K. Choudhary Briefly stated the facts of the case are that the assessee M/s. BOC India Ltd. bought liquid Oxygen under the cover of Central Excise invoice and availed MODVAT Credit. They stored the liquid Oxygen in a common tank where the bought out item and manufactured liquid Oxygen were stored and used in the manufacture of compressed Oxygen and me....

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.... that the entire demand of recovery of Modvat Credit as proposed in the Show Cause Notice should have been confirmed besides imposition of penalty. 2. Shri N.K. Kothari, C.A. appeared on behalf of the assessee and Shri S.S. Chattopadhyay, Supdt.(A.R.) appeared on behalf of the Revenue. 3. Heard both sides and perused the appeal records. 4. I find that the ld. Commissioner passed the de no....

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....it to be reversed by the appellants. As such, we set aside the impugned order and remand the matter to the original authority for redetermining the duty amount which would be required to be reversed applying the principle of first-in first-out for the relevant period. The original authority shall give an adequate opportunity of hearing to the appellants before passing a fresh order and it will be ....

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....ssee, it is contended that the Commissioner(Appeals) had not asked data to follow FIFO method for re-quantification of the demand. The ld. Counsel on behalf of the assessee drew the attention of the Bench to the various evidences such as letter dated 30.06.1986 and letter dated 21.07.1986. 7. I find that there is no clarity in the facts of the case as mentioned in the Adjudication Order and the....