- (1.) The Revenue is aggrieved by order dated 8-8-2007 passed by Customs, Excise and Service Tax Appellate Tribunal, New Delhi in Excise Appeal No. 2871 of 2005-SM(BR), dismissing the appeal of the Revenue on the issue of entitlement to deemed MODVAT credit.
(2.) The assessee is manufacturer of knitted garments and gave declaration on 2-5-2003 under Rule 9A of the Cenvat Credit Rules, 2002, declaring the goods lying in stock as on 1-4-2003. Show cause notice dated 28-6- 2004 was issued by the adjudicating authority for recovery of central excise duty in respect of 200200 pieces of ready-made garments, which had not been entered in the record. The demand of duty was confirmed and penalty was imposed.
(3.) On appeal, the assessee pointed out that in the declaration, goods lying in the shop were also included. A photocopy of bank statement in support of this plea was also produced.;