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2016 (9) TMI 362 - AT - Central ExciseCenvat credit - availed amounting to ₹ 1,35,133/- involved on the inputs lying in stock and the inputs contained in the finished goods as on that date - input quantity involving credit of ₹ 61,953/- was not available in stock as on 14.03.2011 - Imposition of penalty - Held that:- I do not find any reason to interfere with the finding of the learned Commissioner (Appeals) that the CENVAT Credit of ₹ 61,953/- is inadmissible against the total claim of ₹ 1,35,133/-. However, the Appellants should have been allowed to exercise option to pay 25% of the penalty subject to conditions laid down under Section 11AC of Central Excise Act, 1944, in view of the observation of the Hon’ble Gujrat High Court in the case of CCE Vs Harish Silk Mills [2010 (2) TMI 494 - GUJARAT HIGH COURT] and CCE Vs G.P.Presstress Concrete Works [2012 (8) TMI 933 - GUJARAT HIGH COURT]. Accordingly, the appeal is remanded to the Adjudicating authority to consider the option of payment of 25% of the penalty on fulfillment of the conditions laid down under Section 11AC of Central Excise Act, 1944. - Decided partly in favour of assessee
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