2014 (8) TMI 248

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..... T Credit Rules, 2001 - adjudicating authority dropped the proceedings - Held that:- Respondents had reversed the credit attributable to inputs used in the manufacture of wet lapped chemical bagasse pulp removed during the material period and thereafter, they started maintaining separate accounts of inputs used in the exempted final product. We find that the Hon'ble Karnataka High Court in the case .....

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..... mi, JJ. For the Appellant : Mr. M. Rammohan Rao, DC (AR) For the Respondent : Mr. S. Muthuvenkataraman, Advocate PER : P.K. Das Revenue filed this appeal against the order of the Commissioner of Central Excise, whereby the proceedings initiated against the respondent vide show-cause notice dated 19.7.2002 was dropped. 2. Heard both sides and perused the records. 3. The rel .....

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..... t Rules, 2001. It has also proposed imposition of penalty along with interest. The adjudicating authority dropped the proceedings. 4. On perusal of the impugned order, we find that the respondents had reversed the credit attributable to inputs used in the manufacture of wet lapped chemical bagasse pulp removed during the material period and thereafter, they started maintaining separate accounts .....

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