2024 (11) TMI 1459

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....) For the Appellant : Shri Rajesh Ostwal, Advocate For the Respondent : Shri C.S. Vinod, Authorized Representative ORDER PER: S.K. MOHANTY Briefly stated, the facts of the case are that the appellants herein, are inter alia, engaged in the manufacture of Insulated Electrical Wires and Cables, falling under Chapter 85 of the First Schedule to the Central Excise Tariff Act, 1985. On r....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al fund is a 'trading activity' and accordingly, Cenvat Credit taken on the input service was disputed by them on the ground that such Cenvat Credit was utilized for manufacture of the dutiable goods as well as for the trading activities. Therefore, by referring to Rule 6 of the Cenvat Credit Rules, 2004, the department had initiated show cause proceedings against the appellants, which were culmin....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....yer, while selling the same; and there should be a fixed price known in advance while selling and buying for the said goods etc., In the case in hand, the appellants had utilized their surplus fund in investing in the mutual funds market and whatever gain or profit derived out of that investment, the benefit has only been accrued to the appellants and there is no involvement of any third party. Si....