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2020 (4) TMI 240 - AT - Central ExciseImposition of penalty u/r 15(2) of CCR, 2004 - CENVAT Credit - capital goods - pig iron moulds - assessee has taken 100% Cenvat credit on pig iron moulds falling under Chapter 84 of Central Excise Tariff Act, 1985 by declaring them as inputs - Rule 4(2)(a) of CCR, 2004 - HELD THAT:- In this case, from the impugned order it appears that the learned Commissioner has, after going through the show cause notice, the reply in defence and other records of the case, has held that the assessee was indeed entitled to the Cenvat credit which they have availed but they have only availed it in advance. It is also clear that they have availed the credit under the head of “inputs” whereas they could have availed it only under the head of “capital goods”. In fact, she allowed the entire Cenvat credit for this reason and has only demanded interest for the Cenvat credit availed well in advance. No evidence of fraud, collusion, wilful misstatement, suppression of facts which are essential conditions for imposition of penalty under Rule 15(2) of CCR, 2004 are evident either from the SCN or from the impugned order - the penalty imposed upon assessee under Rule 15(2) of CCR, 2004 is set aside. Revenue’s appeal is allowed by remanding the matter to the original authority for requantification of the interest involved after giving both sides adequate opportunity of being heard and presenting their case. Appeal allowed in part and part matter on remand.
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