TMI Blog1999 (10) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... e has preferred the present Reference Application praying for referring the following question of law to the Hon ble High Court :- In this case both question of fact and law is involved. The fact is that M/s Steel Products Ltd. a manufacturer of hamilton poles etc. have availed themselves of Modvat credits on the basis of duty paying documents of various steel materials fraudulently prepared, s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... clearly contravention of the provisions of the Central Excise Rules, 1944. This fact of fictitious credit on the basis of fictitious invoices without receiving materials in the factory premises has not been given any importance even though the assessee on factual/legal position agreed and even the allegation was substantiated in the Order-in-Original passed by the Commissioner. In the premises ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst the dealers were penalty imposed by the adjudicator and the appeals by the dealers were allowed. On the very basis for imposition of penalty upon the assessee, no longer survives and accordingly the point of law has been ignored and instead benefit was extended to M/s. Steel Products Ltd. though breach of law is established and admitted in their act. 2. I have heard Shri J.M. Kenedy, ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nces have also been considered by the Tribunal in the order. It is also brought to my notice by the ld. Consultant, Shri B.N. Chattopadhyay that the Tribunal had relied upon on the decision of the Tribunal in the case of Marcandy Prasad Radha Krishna Prasad (P) Ltd. wherein it was held that statutory right of an assessee cannot be taken away by a letter written by the assessee with respect to not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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