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2009 (9) TMI 499 - AT - Central ExcisePenalty- The relevant facts that arise for consideration are that one M/s. Thir’ven Steels Pvt. Ltd. holders of Central Excise registration having their factory at Venkatarajampet Village, Rajampet Mandal, Kadapa District (hereinafter referral to as assessee) manufacturers of MS ingots. The assesses availed CENVAT Credit on the raw materials used in the manufacture of MS ingots. Held that- we hold that the impugned order imposing penalty on the appellant is unsustainable on merits as well as on time bar. In view of these findings, we set aside the impugned order and allow the appeal. Early hearing application and stay petition also get disposed off.
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