2005 (9) TMI 160

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..... ed their product against the DEEC scheme. At the time of export, they reversed the Modvat input credit, on a mistaken belief that the same was required to be reversed. However, subsequently on clarification issued by the trade as also by the revenue, they reversed the entry in their Modvat account in the same month and informed the revenue. 2. On the above facts, proceedings were initiated again .....

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..... Gawde, ld. Advocate for Appellants and Shri Vimlesh Kumar, ld. SDR for the revenue, we find that there is no dispute about the admissibility of the Modvat credit. The same was initially taken by the appellants, on the basis of relevant proper modvatable invoices. Subsequently, it is only debit entry made by them in the records which, stands reversed by them, in which case no documents are required .....

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