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2009 (11) TMI 443 - CESTAT, MUMBAIInterest- Penalty- The issue related to delay in reversal of cenvat credit on input short received. The Appellant has challenged the Order of the Commissioner (Appeals) imposing penalty under Section 11AC and demanding of interest under Section 11AB, which were dropped by the Original Adjudicating Authority. Held that- in the light of the decision of Commissioner of Central Excise, Pune v. SKF Ltd. 2009 (93) RLT 237 (SC), wherein the Apex Court has held that interest payable on delayed payment for whatsoever is reason. Thus, confirm the demand of interest on delayed payment. In absence of mens rea, penalty under section 11AC of Act not imposable.
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