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2012 (11) TMI 1015 - AT - Central ExciseCENVAT Credit - benefit of the Notification No. 214/86-CE dated 25.3.1986 - Manufacturers of the Panel Boards supplied to the appellant were within the SSI exemption limit of clearances - Held that:- appellant could have definitely availed the cenvat credit on the inputs if appellant had followed the correct procedure and really purchased the inputs, supplied to SSI manufacturers who could have in turn added the value of the raw material and sold it back to him. In fact, instead of manipulating and seeking the manufacturers to include his name in the invoices received by them, all he had to do was, he could make the payment and the manufacturers only need to add the value of other costs and supply the goods to him. Under these circumstances, the submission that there was no loss to the Government and in fact it was loss to the party would show that extended period could not have been invoked in this case and therefore, the entire demand may have to be set-aside. In the absence of any Panelty proposed under other rules/ sections, Panelty under Section 11AC also may have to be struck down. However, learned advocate on behalf of the appellant has referred to a detailed examination of all the evidences and facts of the case to reach a correct conclusion regarding invocation of extended time by submitting that appellant has no objection to appropriate the duty and interest paid and is seeking only waiver of Panelty. Under the circumstances, I find that this is a very reasonable proposition and therefore, I uphold the demand for cenvat credit and interest thereon as not contested. In the facts and circumstances of the case, the Panelty imposed under Section 11AC is set-aside - Decided in favour of assessee.
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