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2010 (2) TMI 333 - CESTAT, BANGALOREPenalty- Irregular availment of Cenvat Credit- the appellant had paid service tax of ₹ 3,96,744/- under the category C&F Agent for services rendered during the financial years 2004-05 and 2005-06 (upto 9/2005). The original authority demanded the cenvat credit of service tax irregularly taken under Rule 14 of the Cenvat Credit Rules, 2004 along with applicable interest. Equal amount of penalty was imposed under Rule 15(4) of Cenvat Credit Rules. A total penalty of ₹ 25,000/- was imposed under Sections 76 & 77 of the Finance Act, 1994. The appellants have already paid the wrongly availed cenvat credit along with due interest. Held that- matter remanded to original authority. Appellant to establish transfer of ownership at destination and exports on FOR destination basis.
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