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2016 (4) TMI 373 - AT - Central ExciseReversal of Cenvat credit - Inputs found short in the factory premises of the appellant - Appellant contended that shortages found in the factory premises were written off as per Cost Accounting System so demand of duty cannot be made because the period of demand is 2002-03 to 2005-06 and the provisions for reversal of CENVAT Credit with respect to shortages in inputs and capital goods on writing off was introduced as per Notification No.26/2007-CE(NT) dated 11.05.2007 hence no CENVAT Credit is required to be reversed Held that:- the shortages written off by the appellant were never found available in the factory premises of the appellant. It is observed that writing off amount and the shortages were detected by the departmental officers during audit and scrutiny of the Cost Audit Reports, accordingly extended period is applicable. Also, it is observed that option of payment of 25% reduced penalty under Section 11AC of the Central Excise Act, 1944 is not extended to the appellant. The same is extended to the appellant subject to the condition that the entire demand along with interest and 25% reduced penalty is paid within 1(one) month from the date of receipt of this Order. - Decided partly in favour of appellant
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