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2012 (4) TMI 500 - AT - Central ExciseCENVAT Credit - Malafide intention to evade duty - Rule 57S - Held that:- A plain reading of the Rule 57S indicate that the assessee needs to take prior permission before removal of the capital goods and if the capital goods are not brought back within a period of three months or within such extended period, they are liable to pay duty equivalent to the credit taken. In the instant case it is an admitted fact that the assessee did not take any permission from the department nor did they bring back the moulds and dies within the stipulated period. Hence, they are liable to pay duty equivalent to the credit taken - the appellant did not have any mala fide intention and the goods were still available with the job worker and, accordingly - Penalties are waived - Decided against Revenue.
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