2008 (9) TMI 645

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..... ajak, SDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. -  Vide the impugned order, the Commissioner ordered recovery of Modvat credit taken by the appellant-company to the tune of Rs. 31,78,315/- imposed equal amount of penalty, on the company and imposed penalties of Rs. 5 lakhs and Rs. 10 lakhs on the Commercial Manager and Company Secretary respectively. 2. The f .....

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..... The appeals are a result of this decision. 3. After hearing both the sides, we observe that the only ground on which the credit is denied and penalties imposed that the Bills of Entry under which the imported goods were cleared by M/s. Godfrey Phillips (India) Ltd. were not endorsed for diversion of the said goods to the appellant's manufacturing unit. The duty paid character of the goods i .....

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..... hes. As such, we find no justification for denial of credit or for imposition of penalty. Hence, the impugned order is accordingly set aside and all the appeals are allowed with consequential relief to the appellants. 5. Inasmuch as the appeals stand allowed on merit, the alternative plea of limitation is not being looked into. (Pronounced in the open Court)
Case laws, Decisions, Judgem .....

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