2008 (4) TMI 266

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....ra, SDR, for the Respondent. [Order] - During the course of the Audit of the appellant, it was found that they had availed Cenvat credit of Rs. 64,950/- on the strength of 5 bills of entry wherein C.V.D. was paid by debit in D.E.P.B. scrip. A show cause notice was issued on 6-4-06 proposing to recover the amount and impose penalty etc. on the ground that credit is admissible only when C.V.D. is....

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.... favour of the Department. The decision in the Larger Bench distinguished the judgment of the Tribunal earlier in Polyhose India Pvt. Ltd. [2003] (152) E.L.T. 361 (Tribunal) In the case of Grasim Industries Ltd. [2002] (149) E.L.T. 764 (Tribunal)], the decision was in favour of the Revenue. It is also quite clear that the issue was found out during the course of Audit which would also show that th....