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Atul Limited Versus Commissioners of Central Excise, Customs and Service Tax-Surat-II

2015 (10) TMI 1331 - CESTAT AHMEDABAD

Reversal of CENVAT Credit - Imposition of penalty - Held that:- Appellant took a credit of ₹ 32,19,567/- as per his misunderstanding of Rule 3(7) of the Cenvat Credit Rules, 2004, as per prescribed farmula. However the same was found to be admi .....

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Notice and actual amount of ₹ 27,53,997/-, subsequently found to be payable, indicate that there was a confusion even in the mind of Department regarding method of calculating admissible Cenvat Credit under Rule, 3(7) of the Cenvat Credit Rules .....

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facts of circumstances, it is not a fit case for imposition of penalty under Rule 15(2) of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 - Decided in favour of assessee. - Appeal No : E/227/2011 - Order No. A/1 .....

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10. 2. Sh. R.H. Shah (Manager) of the appellant argued that a Show Cause Notice dt 12/11/2009 was issued to the appellant, inter-alia, demanding reversal of improperly taken Cenvat Credit of ₹ 32,19,567/-. That the credit was improperly calcula .....

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se Notice. That appellant has not agitated reversal of credit on merits but is only agitating non imposition of penalty as the entire inadmissible credit was paid back before issue of Show Cause Notice which was also not utilized. That no penalty und .....

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redit admissible. Learned Authorised Representative strongly defended the order passed by the first appellate authority. 4. Heard both sides and perused the case records. Appellant took a credit of ₹ 32,19,567/- as per his misunderstanding of R .....

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