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2011 (7) TMI 437 - CESTAT, NEW DELHIClandestine removal - Search and seizure - Reversal of credit - Rule 26 of the Central Excise Rules, 2002 - illegal diversion of goods in the name of job work - held that:- substantial quantity of CP1725G resin had been illicitly diverted under the guise of job work challans for M/s Tanishq. Confiscation, Interest and penalty - Held that:- Under Rule 15(1) of Cenvat Credit Rules, 2004, any inputs or capital goods, in respect of which cenvat credit has been taken wrongly, shall be liable for confiscation. In this case, the illicitly diverted CP1725G resin would be liable for confiscation under this rule, as in respect of this illicitly diverted resin cenvat credit had been wrongly taken. - Confiscation with interest and penalty upheld.
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