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2013 (12) TMI 25 - AT - Central ExciseNotification no. 39/2007 – Calculation of Duty on Quarterly basis - Waiver of pre-deposit of Penalty u/s 11AC of CE Act – Held hat:- If the capital goods on which credit has been taken are removed after being used, the manufacturer shall pay an amount equal to CENVAT credit taken on the capital goods reduced by 2.5% on each quarter of the year or part thereof from the date of taking of the CENVAT credit - The appellants while clearing the capital goods calculated duty on quarterly basis - it is not a case of intention to evade payment of duty - thus the penalty imposed u/s 11AC of the Central Excise Act set aside – Decided in favour of Assessee.
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