Home Case Index All Cases Central Excise Central Excise + AT Central Excise - 2020 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (10) TMI 376 - AT - Central ExciseImposition of penalty - CENVAT Credit - electricity sold by the Respondent to the Electricity Board - reversal of CENVAT credit on inputs used in the plant for generating power that was partly sold to the Electricity Board - HELD THAT:- It is clear from a perusal the documents enclosed with the cross-objections, particularly the letter dated January 25, 2012 sent by the Respondent to the Superintendent of the Excise Department - The Supreme Court in CHANDRAPUR MAGNET WIRES (P) LTD. VERSUS COLLECTOR OF C. EXCISE, NAGPUR [1995 (12) TMI 72 - SUPREME COURT] and COMNR. OF CENTRAL EXCISE & CUSTOMS VERSUS M/S. PRECOT MERIDIAN LTD. [2015 (11) TMI 323 - SUPREME COURT] held that reversal of credit means that the party has not availed the input service credit. Such being the position, the imposition of penalty of ₹ 30,00,000/- upon the Respondent in respect of the electricity sold to the Electricity Board is bad in law - cross-objections is allowed.
|