TMI Blog2014 (1) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... as no mala fide on the part of the appellant to avail excess credit in the first year itself so as to invoke penal action against them - Imposition of penalty on the appellant in terms of Section 11AC was not called for - Decided in favour of assessee. - E/1764/2010 - Final Order No. A/911/2011-WZB/AHD - Dated:- 19-5-2011 - Ms. Archana Wadhwa, J. Shri R. Subramanya, Advocate, for the Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ute on facts. Admittedly, the appellants have availed the entire 100% Cenvat credit in the first year itself, whereas in terms of Rule 4(2) of Cenvat Credit Rules, 2004, they were required to avail 50% of the credit in the first year and balance 50% credit in the next financial year. However, the fact that they availed the entire 100% credit in the first year, will not make balance 50% as non-avai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was the timing of the availment of credit, which is being disputed by the Revenue. In such a scenario, when the credit was availed by making entries in the statutory records, no mala fide can be attributed to them. 5. I find that the Tribunal in the case of V.V.F. Ltd. v. C.C.E., Daman as reported in 2009 (246) E.L.T. 206 (Tri.-Ahmd.), while dealing with the identical issue has observed as under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve manner. 6. Similarly, the Tribunal, in the case of C.C.E., Pune v. Panse Autocomp Pvt. Ltd. as reported in 2008 (223) E.L.T. 253 (Tri.-Mum.) has held as under : 4. On a perusal of the records it is seen that the allegation against the respondent which result the confirmation of demand of duty was in respect of wrong availment of Cenvat credit on the capital goods. The respondents had avai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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