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2009 (10) TMI 373 - CESTAT, MUMBAIPenalty- Cenvat Credit- The issue in the instant case relates to the irregular availment of the Cenvat Credit by the appellants on the basis of the eight Central Excise invoices issued by M/s. Nagpal Steels, a second stage dealer on the basis of the Central Excise invoices issued by the first stage dealers on the strength of the Central Excise invoices issued by M/s. I.I.L. Kamleshwar, Nagpur and M/s. I.I.L., Dolvi. Held that- the appellants avail Cenvat credit to the tune of Rs.1.50 crores to Rs.2.50 crores every year. Once the irregularity regarding the availment of the Cenvat credit of Rs.1,31,340/- was brought to their notice, they paid the same along with the interest. This establishes the bona fide of the appellants. In the facts and circumstances of the case, the imposition of penalty is not warranted on the appellants. The same is set aside. The appeal filed by the appellants against the imposition of penalty is allowed.
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