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Padmini VNA Mechatronics (P) Ltd. Versus Commissioner of C. Ex., Delhi

2016 (1) TMI 730 - CESTAT NEW DELHI

Penalty under Section 11AC - procedural lapse - written off of inputs as obsolete in their books of account and did not reverse Cenvat credit pertaining to them - Held that:- In this case although at the time of writing off as obsolete of inputs in q .....

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actory itself. In these circumstances, hold it is a situation of revenue neutrality and appellant has not gained anything by writing off these inputs as obsolete. In these circumstances, hold that it was only the procedural lapse on the part of the a .....

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Rules, 2002 to the extent of ₹ 5,000/-. - E/60372/2013-EX(SM) - Final Order No. 52052/2015-EX(SM) - Dated:- 26-6-2015 - Shri Ashok Jindal, Member (J) Shri Ram Chander Choudhary, Consultant, for the Appellant. Shri G.R. Singh, DR, for the Respo .....

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c. and they are importing certain component for manufacturing of goods for export. During the period 2008-09 the appellant written off certain inputs in their books of accounts as obsolete but did not reversed Cenvat credit thereon as per Rule 3(5)(b .....

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n off. Later on, these inputs were used by the appellant for manufacturing of final product. Cenvat credit was again availed by the appellant. But adjudication took place. The reversal of Cenvat credit was confirmed and equivalent amount of penalty w .....

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erse Cenvat credit pertaining to them but later on, these inputs were used for manufacturing of final product which were lying in their factory at the time of audit. Therefore, it is only the procedural lapse by the appellant as these inputs have bee .....

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indings of the impugned order. 5. Heard the parties. Considered the submissions. 6. In this case although at the time of writing off as obsolete of inputs in question, the appellant was required to reverse the Cenvat Credit as per Rule 3(5) .....

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