Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2012 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2012 (10) TMI 827 - CESTAT, AHMEDABADWaiver of pre-deposit of amount of penalty - in-eligible CENVAT Credit- Held that:- Appellant is not disputing the in-eligible CENVAT Credit availed by them and has reversed the same along with interest - to that extent order of first appellate authority is upheld and appeal of the appellant is rejected on merit. Penalty - Held that:- appellant had a CENVAT Credit of more than Rs.Two Crores from the time the audit party pointed out the in-eligible CENVAT Credit of Rs.4,49,426/-. If that be so, visiting the appellant with the penalty under the provisions of Rule 15(2) of CENVAT Credit Rules, 2004 read with Section 11AC of Central Excise Act, 1944, seems to be unwarranted as the appellant would not have any reason to utilize the amount as he has enough balance in CENVAT - penalty imposed on the appellant is unwarranted and needs to be set aside and appeal is allowed.
|