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2016 (11) TMI 776 - AT - Central ExciseReversal of cenvat credit - imposition of penalty on the assessee 25% of the Cenvat Credit reversed and penalty of ₹ 25000/- on the manager - total liability of duty exceeding SSI limit - Held that: - In this case, during the course of investigation, certain inputs were found short. The revenue has presumed that these inputs have been used in manufacturing of final product. The Revenue has not adduced any evidence that these inputs have been used in manufacturing of final product and final product has been cleared by been produced by the Revenue, therefore, duty cannot be demanded, merely, on presumption. In that circumstance, I do not find any infirmity in the impugned order. The same is upheld qua holding that reversal of cenvat credit is sufficient in this case - With regard to the penalty imposed on the assessee and its manager, I find that its case of shortage of inputs which was detected during the course of investigation and the same has not been disputed by the assessee. In that circumstances, penalty is rightly imposed on the assessee and its manager, therefore, for the imposition of penalty, I do not find any infirmity in the impugned order. The same is upheld - appeal dismissed - imposition of penalty upheld.
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