TMI Blog2005 (5) TMI 201X X X X Extracts X X X X X X X X Extracts X X X X ..... eals) has dropped the recovery of Modvat credit of the amount in question (Rs. 5,37,799/- and penalty of Rs. 50,000/-) against the respondents. 2. I have heard both the sides and gone through the record. The perusal of the record shows that the respondents exported P.P. Woven fabrics with a declaration on the relevant AR-4s that they were not availing the benefit of the credit. The export was ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not liable to be accepted. The respondents had availed two benefits. One of the drawback against the export consignment and second of the credit on the indigenous inputs as they used the same being faced with the urgency of exporting the goods. However, when the replacement was received, they took the credit again though later on, but it is related to the same export consignment. Under no provisio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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