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2017 (5) TMI 1249 - HC - Central ExciseReversal of cenvat credit - Sale of Mercury - closure of the Mercury Cell Processing plant - Held that: - over and above the initial quantity of Mercury, the appellant had purchased Mercury at different points of time, availing CENVAT Credit and on closure of the Plant in the year 2004, there was a stock of 42262.5 kg of Mercury, which was sold by them on 22.09.2004 without payment of duty and without raising any invoice. The issue is squarely covered by the verdict passed by the Apex Court in Lord Chloro Alkali Ltd. vs. Commissioner of Central Excise [2015 (8) TMI 1052 - SUPREME COURT], where it was held that mercury was cleared by the appellant herein as mercury only. Thus, on this basis, it is clear that the provisions of Rule 3(4) of the CCR, 2001, become applicable and duty would be paid, and the fixation of liability towards Duty, Interest and Penalty does not warrant interference. Penalty - Held that: - The appellant, being a Government Company, ought to have been more prudent and transparent in all its deeds, acting as a model to others. No materials are brought before this Court to interfere with the quantum of penalty as well - penalty upheld. Appeal dismissed - decided against appellant.
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