Mere recording of contrary statements do not establish claim of credit as bogus

Brief facts of the case: The appellant (assessee) was engaged in the manufacture of Electrical Wiring Accessories falling under Chapter 85 of the Schedule to the Central Excise Tariff Act, 1985. They were availing CENVAT credit under Cenvat Credit Rules, 2004. During investigation, it was found that the appellant availed CENVAT credit amounting to Rs. 11,59,698/- on the basis of invoices issued by M/s. Annapurna Impex Pvt. Limited, Ludhiana  without receiving the inputs.  The Central Excise officers recorded the statements of the employee of the appellants, broker of M/s. Annapurna. A show c...