2005 (5) TMI 133

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....he disallowance of Modvat credit to the company, appellant No. 1, and imposition of penalties on the other appellants who were its employees at the relevant time. 2. I have heard both sides and gone through the record. The Modvat credit of Rs. 61,588/- has been denied to the company on the ground that the goods (Furnace Oil), allegedly received by them in the factory, were not accompanied by Modv....

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....tly issued invoice did not contain any reference of the earlier delivery challan and the goods were also not covered by that invoice. In the face of these findings of the learned Commissioner (Appeals), which remain unrebutted on the file, the Modvat credit cannot be legally claimed by the company. The impugned order denying them the Modvat credit is perfectly valid and upheld. 3. Another content....