M.M.Kumar, J.

1. At the instance of the assessee, this Court had directed the then Custom Excise and Gold (Control) Tribunal, Northern Division Bench, New Delhi to draw the statement of the case and refer the question of law for determination of this Court. Accordingly statement of facts have been drawn and the following question of law has been referred :

#28;Whether on the facts and circumstances of the case, the Tribunal is right in disallowing the credit for Modvat on the carbon copy of the challans furnished by the petitioner evidencing payment of duty#29;?

2. In order to appreciate the controversy few facts as stated in the statement of facts may first be noticed.

3. The assessee-applicant was engaged in the manufacture of cold rolled steel strips falling under chapter sub Heading 7211.51 of the Schedule to the Central Excise Tariff Act, 1985 and the assessee was availing Modvat credit facility in respect of duty paid on the inputs namely H.R. Strips/H.R. Coils/Skelp in terms of Rule 57A of the Central Excise Rules, 1944 (for brevity #24;the Rules#25;). On scrutiny of record pertaining to the period January, 1994 to March, 1994, the revenue authorities found that asse