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2017 (9) TMI 609 - AT - Central ExciseDemand of interest - penalty - credit reversed without utilising the same - Held that: - in a situation where credit is reversed prior to utilisation thereof interest cannot be demanded - the assessee has not utilised the said credit, the demand of interest on the credit reversed before utilising the same is set aside. Penalty - Held that: - It is not understood as how an error can occur where credit is taken without any documents. This can only happen when there is an intention to evade duty and default revenue. The ingredients necessary for imposing penalty under Rule 15(2) of Cenvat Credit Rules and Section 11AC of the Act are clearly available - penalty upheld. Appeal allowed - decided partly in favor of appellant.
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