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2017 (5) TMI 755 - CESTAT AHMEDABADPenalty u/r 26 of CER - fraudulent and wrong availment of huge amount of CENVAT Credit - fake transfer, only paper transactions - Held that: - The appellant has been found to be an important facilitator for M/s Akai, the main noticee, for fraudulent and wrong availment of CENVAT Credit when M/s Jagdamba entered into only paper transactions with M/s Akai without physically delivering the goods to M/s Akai - There are no redeeming facts which could in any way reduce the gravity and seriousness of the contraventions of law of Central Excise of the appellant M/s Jagdamba making them liable for penalty under the provisions of Rule 26 of CER 2002 - penalty upheld - appeal dismissed - decided against appellant.
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