2008 (4) TMI 266

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....] - 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 paid in cash. After adjudication proc....

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....n 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 the records were maintained properly and....