2011 (10) TMI 150

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..... 2. A show-cause notice dated 21.10.2008 was issued proposing denial of credit of Rs. 34,89,736/- relating to the period 2004-05 to 2006-07 along with other consequences. Original authority confirmed the demand as proposed in the show-cause notice and adjusted an amount of Rs. 94,220/- paid before issue of show-cause notice and also confirmed demand of interest and imposed penalties under Section .....

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..... they contested the demand on time bar. The Commissioner has erroneously treated their submission regarding time bar as applicable only in respect of a demand of Rs. 32,58,570/- only. Therefore his sustaining the said demand and sustaining the equal amount of penalty under Section 78 is erroneous. He also draws my attention to the findings of the Commissioner (Appeals) that extended period of limit .....

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..... elevant details in the ST-3 returns and they were subjected to scrutiny by the audit takes. 6. I have carefully considered the submissions from both sides and perused the records. I find that the assessee has admitted that credit to the tune of Rs. 2,31,166/- was not eligible to them. Commissioner (Appeals) has therefore considered the issues relating to the rest of the demand and accepted the pl .....

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