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2014 (1) TMI 326 - AT - Central ExciseWaiver of pre-deposit of penalty under Rule 15(2) of CENVAT Credit Rules, 2004 r.w. Section 11 AC of the Central Excise Act, 1944 – CENVAT credit availed on input and input service used in the generation of electricity - Held that:- The applicant availed the credit on the inputs, input services and capital goods used in the generation of electricity and partly used the same for the non-duty paid finished goods - The audit party during the verification of records detected the irregularity of availment of the credit - The applicant reversed the entire credit along with interest immediately upon detection by the audit party - Prima facie, the deposit of duty and interest is sufficient for waiver of pre-deposit of penalty - Pre-deposit of penalty waived till the disposal – Stay granted
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