2011 (5) TMI 440

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..... Member. - This stay petition is directed for waiver of the following amounts :   (i)  An amount of Rs. 2,57,22,325 being Cenvat credit irregularly availed;  (ii)  Interest under rule 14 of Cenvat Credit Rules, 2004 read with section 75 of the Finance Act, 1994; and (iii)  Penalty of Rs. 2,58,00,000 under rule 15(4) of the Cenvat Credit Rules, 2004 read with section 7 .....

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..... d availed of Cenvat credit based upon the documents which were available with them and produced before the adjudicating authority. It is the submission that the credit which was taken is eligible credit. 5. The learned JDR draws our attention to various allegations made in the show-cause notice and findings of the adjudicating authority specifically at paragraphs 17 and 22 of the Order-in-Origina .....

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..... e or immovable, benefits available under any rules, regulations, statutes including direct and indirect taxes and particularly sales tax benefits, Cenvat benefit, import and export benefit of customs duty of the demerged company in relation to the BPO Division shall become part of the resulting company without any act or deed on the part of the demerged company. From the above reproduced findings, .....

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