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2013 (3) TMI 279 - AT - Central ExciseMODVAT/CENVAT credit on inputs - Removal as such without payment of duty - Recovery u/s 11D - Penalty u/s 11AC - extended period of limitation - held that:- assessees that they cannot be held guilty of suppression or misstatement as regards non-reversal of credit for the reason that they are handling vast quantity of steel every year for manufacturing activities and issuing approximate quantities to sub-contractors, who are executing the works within the factory. - it was not practically possible to expunge the credit as and when the materials are issued to civil works. - No penalty u/s 11AC - However, penalty of Rs. 10,000/- is upheld as the assessees had not submitted relevant details in their monthly return. - Partly in favor of assessee Demand u/s 11D - recovery of cenvat credit reversed - held that:- in the light of the decision of the Larger Bench of the Tribunal in Unison Metals Ltd. v. Commissioner of Central Excise, Ahmedabad - [2006 (10) TMI 171 - CESTAT, NEW DELHI], Section 11D is not applicable since the amount of 8% or 10% has already been paid to the Revenue and no amount is retained by the assessee. - Decided in favor of assessee.
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