2004 (8) TMI 257

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....of the impugned order-in-appeal vide which the Commissioner (Appeals) had disallowed them the Modvat credit of Rs. 1,61,866/- in respect of invoices issued by M/s. Rama Steel Traders and also confirmed penalty of Rs. 75,000/-. I have heard both the sides and gone through the records. 2. The appellants availed Modvat credit of the above said amount in respect of the three invoices through which th....

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.... the Modvat credit, on the strength of invoices which contained all details regarding payment of duty and even sales tax number of the supplier, could not be denied to them. 3. The demand for the recovery of the Modvat credit amount on the face of it can be said to be time-barred. Modvat credit was taken by the appellants during the period Feb, 1994 to March, 1994 and the invoices were also submi....

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....here was no suppression of the facts by the appellants. The appellants had submitted the documents for the defacement and monthly RT-12 returns filed by them were finalised. The Commissioner (Appeals) had allowed the Modvat credit in respect of those goods after setting aside the order-in-original to that extent. Regarding the Modvat credit of Rs. 1,61,866/- which had been disallowed, the Commissi....