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2012 (9) TMI 569 - HC - Central ExciseWrongful availment of the credit - interest and penalty equivalent to the amount of duty under section 11AC - Tribunal could not have, on remand, reconsidered the issue relating the duty earlier as proceedings related to the reduction of penalty by this Court has restored - Held that:- The assessee had paid the entire duty amounting to ₹ 17,96,685/- with interest amounting to ₹ 1,80,439/-. Moreover, with a view to put an end to the controversy relating to the modvat credit amounting to ₹ 58,915/- and ₹ 41,600/- which is remanded by the Tribunal, the assessee through its counsel agreed to forgo the amount of ₹ 4,50,000/- already deposited with the revenue. Thus, the duty demand confirmed at ₹ 17,96,685/- as per the original order of the Tribunal stands discharged on account of payment of the said amount with interest. Hence, the first question does not survive. Suppression of facts claiming depreciation on capital goods - Held that:- realising the mistake, the assesee took steps to withdraw the claim of depreciation and since that did not materialise, the assessee offered to pay the duty with interest. In these circumstances, the decision of the Tribunal that Section 11AC is not attracted, cannot be faulted - against revenue.
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