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TMI Blog2014 (7) TMI 610X X X X Extracts X X X X X X X X Extracts X X X X ..... MENT Per Hon'ble Mrs. Archana Wadhwa : The very short issue involved in the appeals is that the appellant availed CENVAT credit of duty paid on the capital goods to the extent of 100% during the financial year 2004-05, 2005-06 and 2006-07, whereas they were required to avail 50% of the credit in the first financial year in which the capital goods were received and the balance 50% was to be avail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the interest and imposed penalty of Rs. 25,000/-. Hence, the present appeal. 4. Ld. Advocate appearing for the appellant submits that the demand in question is barred by limitation having been raised beyond the normal period. She submits that the entire facts were available to the Revenue in as much as the credit was taken and reflected in the statutory records. In any case, the said credit, t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ision stands followed by the Tribunal in number of subsequent judgements. One such reference can be made in the case of Balrampur Chinni Mills Ltd. Vs. CCE, Allahabad [2013 TIOL-1142-CESTAT-Delhi]. In terms of the law declared by the Hon'ble High Court of Karnataka, I set aside the confirmation of interest. 6. As regards penalty, the same stands imposed in terms of provisions of Rule 15(1) of CEN ..... X X X X Extracts X X X X X X X X Extracts X X X X
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