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2008 (10) TMI 231 - CESTAT, KOLKATACenvat Credit – Common Inputs – No separate accounts – Rule 6 read with Rule 14 and 15 of Cenvat Credit Rules, 2004 – held that - since the Liquid Nitrogen in questions has been cleared at nil rate of duty and the same has been manufactured from the duty-paid Nitrogen, credit in respect of which has been taken, the duty-demand at the rate of 8% of the value of nil rated clearance is in order and the same it confirmed along with the interest on the same. However, considering the circumstances of the case and the fact that the Appellants have given all particulars in their regular returns, this is not a fit case for imposition of penalty and therefore, the penalty is waived.
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