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TMI Blog2012 (11) TMI 772X X X X Extracts X X X X X X X X Extracts X X X X ..... dent. [Order per : M.V. Ravindran, Member (J)]. - This appeal is directed against Order-in-Original No. 21-22/DEM/Vapi/2006, dated 31-8-2006. 2. The relevant facts that arise for consideration are that the appellant herein is engaged in the manufacture of textile machines and textile machine parts, availing Cenvat credit of the Central Excise duty paid on the inputs received for manu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e contentions raised by the appellant before him and confirmed the demand of duty, interest thereof and imposed penalty. 3. Ld. Counsel appearing on behalf of the appellant would submit that the appellant had undisputedly reversed the Cenvat credit availed on the inputs while clearing the same to their sister concerns. It is his submission that there cannot be any re-assessment of the said g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... des and perused the records. 6. The issue involved in this case is what should be the value of in respect of inputs on which CENVAT/MODVAT Credit has been taken, are removed as such by the appellant to their sister concerns for use in the manufacture of final product i.e. whether it has to be done at 115% of the cost of the inputs or plain reversal of credit amount as done by the appellant i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Larger Bench that the amount of Cenvat credit taken by the assessee, of the duty paid on the invoice value as shown in the invoice can be considered as correct assessable value and duty liability to be discharged. This would, in other words, would mean that the Cenvat credit of the Central Excise duty would be the correct amount which needs to be reversed when the inputs are removed as such ..... X X X X Extracts X X X X X X X X Extracts X X X X
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