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M/s Nova Petrochemicals Ltd. Versus Commissioner of Central Excise-Ahmedabad-II

2015 (12) TMI 1310 - CESTAT AHMEDABAD

CENVAT Credit - Penalty u/s 11AC - whether the imposition of penalty of equal amount of Cenvat Credit under Rule 15(2) of the Rules and Section 11AC of the Act is warranted - Held that:- There was a balance in the Cenvat account, more than the amount as demanded. It is clear that the appellant themselves filed the revise return to regularize the amount. Thus, there is no material available of suppression of fact with intent to evade payment of duty under the Section11AC of the Act. It is consist .....

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r of assessee. - Appeal No. : E/1578/2010 - ORDER No. A/11806 / 2015 - Dated:- 6-11-2015 - Mr. P.K. Das, Member (Judicial) For the Petitioner : Shri L Patra, Authorised Representative For the Respondent : Shri P M Dave, Advocate, Shri P P Jadeja, Advocate & Shri Paritosh Gupta, Advocate ORDER Per : Mr.P.K. Das, The Learned Advocate appearing on behalf of the appellant submits that they are not contesting the demand of the Cenvat Credit of ₹ 20,12,181/-, which they have reversed immedia .....

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Learned Authorised Representative for the Revenue submits that they have availed the credit twice deliberately and therefore Section 11AC of the Act, would be invoked. It is also contended that there is contravention of the Rules and the Act and imposition of penalty is justified. In rejoinder, the Learned Advocate fairly submits that after taking into consideration of the amount, they are not seriously disputing the demand of interest. 3. After hearing both the sides and on perusal of records, .....

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t reflecting the closing balance figures of the ST3 return of the previous quarter in the opening balance and showing opening balance as NIL with a remark that -closing balance of input service credit in ST3 for October 2007 to March 2008 is transferred to C.Ex.ER.1. I thus find that the appellant had reflected and reversed the excess availed cenvat credit amounting to ₹ 20,12,181/- (Rs 19,72,727/- S.Tax + ₹ 39,454/- Edu. Cess) in the ST3 return for the period April 2008 to September .....

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