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2019 (9) TMI 1586 - CESTAT NEW DELHIPenalty under Section 11AC of the Act - short payment of tax - production and clearance of “Coal” to Jayaswal Neco Industries Ltd., Raipur a sister concern - revenue neutrality - HELD THAT:- It is admitted fact that the respondent had the mining unit at Raigad and pursuant to the mining operation, the mining unit transfers coal to their steel manufacturing unit at Raipur for captive consumption. Further, admitted fact is that the output of both the mining unit as well as the steel manufacturing unit is dutiable. Thus, the situation is wholly Revenue neutral. Further, it is admitted fact that the respondent has deposited the differential duty after getting the inputs from the Cost Accountant, in the form of CAS-4 report/ certificate. Thus, there is no condition precedent available for imposition of penalty. Penalty rightly set aside - appeal dismissed.
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