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2015 (12) TMI 1100 - AT - Central ExciseDemand of CENVAT Credit - Penalty under Rule 15 of the Cenvat Credit Rules 1994 read with Section 11AC - Held that:- Appellant had wrongly and prematurely availed and utilized the Cenvat Credit during the period from Sept. 2006 to March 2007. The main contention of the Learned Advocate is that they have reversed credit alongwith interest. I find that it was a regular practice of the appellant for 6 months of excess availment of the Cenvat Credit, even which was reversed with interest, the appellant is liable to pay penalty for contravention of the Rules. It is noted that the Adjudicating Authority imposed penalty under Rule 15 of the Rules read with Section 11AC of the Act which was modified to ₹ 5,00,000/-. The Revenue has not filed any appeal against such modification. Thus, it is clear that there is no suppression of fact with the intent to evade payment of duty - Decided partly against assessee.
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