Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2016 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (8) TMI 778 - AT - Central ExciseDemand - recovery of credit availed - irregularly availed 100% CENVAT Credit in the same year on capital goods viz: Ingot moulds, Forged Rolls & Metal Rolls for the period 2005-06, 2006-07 & 2007-08 - Held that:- the appellant is eligible to avail 50% credit in the subsequent year. In such case, there is no revenue loss and the availment of 100% credit in the same year of purchase is only a procedural lapse. The appellant has already paid the interest and penalty which in my opinion would suffice as compensation for the procedural lapse committed by them. In the present case there is no finding that appellant resorted to any contumacious conduct of reversal of irregular credit, on pointing out by department and had later on availing the same in the subsequent financial year. Further, as the appellant was eligible to avail the balance 50% in subsequent year, it cannot be said that there was any dishonest intention. The appellant prays to restore the adjudicating authority's order dated 29.10.2009. Taking into account the evidence and the fact that appellant has paid the interest and penalty, I am of the view that the demand/recovery of credit availed is not sustainable. - Decided in favour of assessee
|