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2013 (11) TMI 843 - AT - Central ExcisePenalty under Rule 15 (1) of cenvat credit rules 2004 – Retrospective amendment in Rule 6 of cenvat credit rules 2004 for proportionate reversal of credit – part of generated electricity utilizing the inputs on which cenvat credit availed, were sold outsiders, therefore, the Appellants are not eligible to cenvat credit - Held that:- In view of the specific Explanation contained in the retrospective amendment no penalty could be imposed – the Commissioner himself had acknowledged that both the Department and the Assessee were in a wrong notion on the applicability of relevant provisions during the said period – there was no merit in imposing penalty on the Assessee – Thus, imposition of penalty of Rupees two lakhs under Rule 15 (1) of the Cenvat Credit Rules, 2004, set aside – Decided in favour of Assessee.
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