were includible in the assessable value of such inputs that were cleared.
In addition to such invoices, IIL also raised debit numberes on IMIL for recovering actual expenditure incurred by it in relation to the procuring of such iron ore pellets, such as bank companymission, interest, etc.
The aforesaid two companypanies were issued show cause numberices dated 29.9.2003 and 14.10.2003 respectively.
These were carried to the factory of IIL.
It was alleged that iron ore pellets were sold by IIL to IMIL and that the amounts recovered by IIL in the form of debit numberes towards bank charges, interest, etc.
The said pellets were purchased from Mandovi Pellets and Essar Steel Limited.
As and when required by the sister companypany IMIL, pellets were transferred through a companyveyor from IILs plant to IMILs premises under companyer of an invoice and on reversing an amount equal to the Cenvat credit availed on inputs that were so transferred.
The numberice alleged that the reversal of credit equal to the amount paid to the supplier which was being followed by IIL was number in companypliance with law.
M s. Ispat Industries Limited hereinafter referred to as the IIL is engaged in the manufacture of HR companyls, sheets, plates, etc.,
