9911796707
TMI Blog2014 (10) TMI 373X X X X Extracts X X X X X X X X Extracts X X X X ..... the Respondent. ORDER The appellants are engaged in the manufacture of MS ingots. Their factory was visited by the officers on 4-12-2008, who conducted various checks and verifications. As a result, shortage of 130.175 MT of inputs, i.e., sponge iron was detected. The appellants accepted the said shortage and reversed the Cenvat credit of Rs. 3,52,899/- on 4-12-2008 itself. 2. Subsequently ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner of Central Excise without specifying any sub-rule of the said Rule. Even, the Commissioner (Appeals) has observed that penalty stands imposed under Rule 15 without specification of any sub-rule. 5. I have seen Rule 15 of Cenvat Credit Rules, 2004. Sub-rule (1) of the said Rule provides imposition of penalty not exceeding the duty on the excisable goods, where a person has taken the Ce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in a period of 30 days to the extent of 25%, the penalty shall stand reduced to that extent. Inasmuch as in the present case, the appellant has admittedly deposited the duty along with 25% of penalty within the period specified under Section 11AC of the Act, I am of the opinion that this is a fit case for reduction of penalty. 6. In view of the foregoing reasons, demand is upheld as not cont ..... X X X X Extracts X X X X X X X X Extracts X X X X
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