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2017 (11) TMI 1038 - AT - Central ExcisePenalty on Managing Director of M/s. Reliance Engineers Ltd. - recovery of CENVAT credit - Held that: - the delayed payment of duty/reversal of credit in terms of Rule 3(5) and 3(5A) of the CCR, 2004 was due to the fact that the company was not in the possession of any of the records to pay the dues/reverse the credit and immediately after the receipt of the records from the Bench the company has paid/reversed the credit in terms of Rule 3(5) and 3(5A) of the CCR, 2004 - the clearance of goods was not at all in the hands of the appellant to invoke Rule 26 - appeal allowed - decided in favor of appellant.
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