TaxTMI 
TaxTMI 
2018 (2) TMI 1555
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....uto parts and had purchased inputs from a first stage dealer M/s Regal Metal & Ferro Alloys. Revenue received the intelligence that the dealer had purchased wire rods from different manufacturers but issued invoices for steel rods to appellant resulting in availment of irregular Cenvat credit by appellants on the basis of improper invoices issued by the first stage dealer. A statement of Sh. Jagdish Sharma, Accountant-cum-authorized signatory of the appellant was recorded on 24.02.2010, in which he admitted that they had never received the wire rods in their factory premises. A show cause notice was issued. In adjudication, the demand of Rs. 3,06,162/- was confirmed along with interest and penalty of equivalent amount was imposed on the app....
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....ually supplying the goods manufactured by the appellants. This is supported by the statement of Sh. Jagdish Sharma that they did not receive the wire rods in their factory premises. In this context, the following findings of the adjudicating authority are particularly relevant: "From the statement dt. 24.02.2010 tendered by Sh. Jagdish Sharma, Accountant-cum-authorized person, it is found that the said dealer had actually not supplied the same goods to the noticee which he had received from the supplier/manufacturer and the said dealer had actually substituted the materials by another material against the cited invoices. Their dealer has changed the description & tariff heading of the goods on the invoices to facilitate the noticee to ava....