CENVAT Credit Case: Appellant Sold Moulds Without Transfer, Paid VAT, Profited from General Motors; Penalty Removed.

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....CENVAT Credit - Job work - while the mould and dies were with the job worker, appellant sold it with adequate payment of VAT - Such a transfer with physical delivery of possession was not made but appellant had earned profit on sale of such mould and dyes in the guise of recovering the cost from General Motors. - Demand confirmed, but penalty set aside.....