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M/s Saurashtra Ferrous Pvt Ltd. Versus Commissioner of Central Excise-Rajkot

2015 (12) TMI 1100 - CESTAT AHMEDABAD

Demand of CENVAT Credit - Penalty under Rule 15 of the Cenvat Credit Rules 1994 read with Section 11AC - Held that:- Appellant had wrongly and prematurely availed and utilized the Cenvat Credit during the period from Sept. 2006 to March 2007. The mai .....

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ant is liable to pay penalty for contravention of the Rules. It is noted that the Adjudicating Authority imposed penalty under Rule 15 of the Rules read with Section 11AC of the Act which was modified to ₹ 5,00,000/-. The Revenue has not filed .....

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P.K. Das, Hon'ble Member (Judicial) For the Petitioner : Shri R Subrmanya, Advocate For the Respondent : Shri L Patra, Authorised Representative ORDER Per : Mr.P.K. Das, Heard both sides and perused the records. 2. The Learned Advocate on behalf .....

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8377; 45,70,042/- under Rule 15 of the Cenvat Credit Rules 1994 read with Section 11AC of the Central Excise Act 2004. By the impugned order, the Commissioner (Appeals) reduced the penalty to ₹ 5,00,000/-. It is contended by the Learned Advocat .....

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d Advocate. He submits that the appellant a habitual offender of taking excess credit and therefore, imposition of penalty is warranted. The Learned Authorised Representative for Revenue drew the attention of the Bench to the relevant portion of the .....

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ain contention of the Learned Advocate is that they have reversed credit alongwith interest. I find that it was a regular practice of the appellant for 6 months of excess availment of the Cenvat Credit, even which was reversed with interest, the appe .....

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