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2015 (10) TMI 1318 - CESTAT AHMEDABADImposition of penalty - Rule 15(1) of Cenvat Credit 2004 - cenvat credit on GTA service - Held that:- The contention of the appellant is that they have taken credit on the basis of the Larger Bench decision. The Hon’ble Karnataka High Court [2011 (3) TMI 248 - KARNATAKA HIGH COURT]has restricted the credit upto March 2008 and the period after the decision of the Hon’ble High Court the appellant reversed the credit. I find that in any event, there is contravention of Rule as well as the appellant availed credit after the decision of the Hon’ble Karnataka High Court in the case of ABB Ltd. Therefore, there is some force in the submission of the Learned Authorised Representative for the Revenue. However, considering overall facts and circumstances of the case, in my view, the quantum of penalty is excessive. - Penalty is reduced - Decided partly in favour of assessee.
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