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2012 (8) TMI 857 - AT - Central ExciseCENVAT credit - Wrong availment of CENVAT Credit - Goods received from 100% EOU - Held that:- there is no dispute as regards the amount of cenvat credit wrongly taken but only penalty issue has to be decided. As submitted by the ld. C.A., this Tribunal in the decision of Welkin Polymers (P) Ltd. [2010 (1) TMI 465 - CESTAT NEW DELHI] has taken a view that in such cases it cannot be said that there was suppression or mis-statement on the part of the assessee to avail cenvat credit wrongly. Moreover as soon as the omission was pointed out, the appellants have voluntarily debited the cenvat credit with interest without waiting for any proceedings to be initiated - liability for the cenvat credit incorrectly availed is not being questioned and the confirmation is also not being challenged. In view of the above discussion, while upholding the confirmation of the demand for wrongly availed cenvat credit with interest, the penalty imposed on the appellant is set aside - Decided partly in favour of assessee.
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