KINETIC MOTOR COMPANY LTD. Vs. CCE, INDORE

JUDGEMENT

(1.) IN this case, the Commissioner of Central Excise, Indore has ordered recovery of modvat credit of Rs. 2,67,51,600/ - availed by the appellants herein during the period 1987 -88 to 30.11.1991 for payment of duty on scooters cleared by them; has ordered recovery of interest under Section 11AB of the Central Excise Act and imposed a penalty of Rs. 2,51,00,000/ - upon the appellants herein. Hence these appeals. The issues to be decided are as under:

(2.) WE have heard both the sides and carefully considered their submissions. Our findings are recorded herein below: