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2013 (11) TMI 1290 - CESTAT NEW DELHIBogus invoices issued to take cenvat credit – Clandestine Removal of goods – Waiver of Pre-deposit – Held tha:- Lot of fraudulent activities have been undertaken by M/s.Puransons Alloys with active support of M/s.Punjab Metal Works - Both units were being controlled by Shri Puneet Bhandari Fake invoices have been issued to take cenvat accredit with a intention to defraud the Revenue - Serious prejudice has been done to the Revenue’s interest - Investigations by Revenue have been able to bring out enamours evidence in their favour. Revenue has been able to make out a very good case for fraudulent conduct and issue of paper transactions to avail irregular credit - Preponderance of probability is in the favour of Revenue. Further no financial hardship has been pleaded by the appellants - Assessee directed to deposit Rs.75 lakhs as pre-deposit – upon such submission rest of the duty to be waived till the disposal – Partial stay granted.
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