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2015 (11) TMI 90 - AT - Central ExciseAvailment of fraudulent CENVAT Credit - Bogus invoices - Non receipt of actual goods - Held that:- Revenue has produced evidence from the bank of the appellant that no money has been paid to the purported five suppliers of sponge iron. The least that is expected from the appellant was to produce evidence from the banking channels that the money for the so called as sponge iron purchased was indeed paid to the five suppliers, corresponding to the alleged fictitious invoices. In addition, the appellant could have produced some transportation documents and the transporter to prove that the goods have been transported from the manufacturers or dealers place to the appellant s factory. Since no explanation whatsoever is coming forward from appellant, in our view the case against the appellant stands even if the statements given by seven persons are ignored. In view of this position, in our view the contentions of the revenue are correct and the demands of duty, interest and penalty, etc. are in order. The penalty under Section 11AC is correctly imposed as this is a case of fraudulent availment of Cenvat credit, interest under section 11AB would be payable. As far as the appellant No.2 & 3 are concerned; they were the directors at the relevant time. Their conduct during investigation as also the statements made by Shri Naval Kishore Vasu, General Manager and Shri KK Agarwal, authorised signatory leaves no doubt that the fraudulent availment of Cenvat credit was at their instance alone. Shri Naval Kishore Vasu was authorised to give statement by appellant No.2 & 3 and therefore, in a way the appellant No.2 & 3 have admitted their role in the fraudulent availment of Cenvat credit, we find that penalty imposed are not on the higher side. - Decided against assesse.
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