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2015 (5) TMI 1093 - AT - Central ExciseCenvat credit - Short receipt of inputs - Penalty - Rule 15(1) of Cenvat Credit Rules, 2004 - Time limitation - Held that: - the conclusion is that Cenvat credit availed and utilized on short receipt of base oil in excess of 1% is not permissible - In our view the said limit is in accordance with the instruction issued by the Central Board of Excise and Customs on the subject. We also agree with the ld. AR that the limits will not be different in case of movement of goods which are duty paid or movement of goods which are non-duty paid. Such losses will not depend upon duty paid or non-duty paid nature of goods but will upon the inherent nature of the goods. We find that basic Excise duty without benefit is ₹ 9,39,250/- + ES+ SHES. Amount confirmed is less than this amount. However, computation details are not given. Appellant may compute, after taking benefit of 0.1% permissible limit and pay the differential amount and interest. We also note that equal amount of penalty has been imposed under Rule 15(1) of Cenvat Credit Rules, 2004. Keeping in view the nature of the dispute and the fact that earlier department has allowed such losses; we do not consider it a fit case for imposition of penalty under Rule 15(1) of Cenvat Credit Rules, 2004, penalty imposed is therefore, set aside - Appeal disposed of.
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