TMI Blog2014 (6) TMI 940X X X X Extracts X X X X X X X X Extracts X X X X ..... of Cenvat credit reversed is upheld and the same stands confirmed. - E/719 & 726/2008-Mum - Final Order Nos. A/1204-1205/2014-WZB/C-IV(SMB) - Dated:- 11-6-2014 - Shri Anil Choudhary, Member (J) Shri V.C. Khole, Dy. Commissioner (AR), for the Department. None, for the Assessee. ORDER These cross appeals arise out of Order-in-Appeal No. RKR(115)213/06, dated 5-3-2008 passed by the Commissioner of Central Excise Customs (Appeals), Aurangabad. 2. The brief facts are that the appellant-assessee is a sugar factory in cooperative sector manufacturing excisable goods, namely, sugar, molasses and ethyl alcohol. During scrutiny of records some time in the year 2004 in the course of audit, it was noticed that the appellant-a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Credit Rules, 2002 read with Section 11A of the Central Excise Act, 1944. The amount already paid by way of Cenvat credit entry No. 8, dated 7-6-2004 should not be appropriated and as to why penalty and interest imposed. 2.2 The appellant-assessee filed reply to the show cause notice that the mistake has been committed inadvertently through oversight and is more due to interpretation made by them. That due to misunderstanding of the provisions of law they have claimed depreciation under the Income Tax Act on the full amount of the capital goods instead of proportionate amount pursuant to reduction of Cenvat credit availed under the Cenvat Credit Rules. However, on being pointed out by the audit they had immediately, without protest, reve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st date and sought time and the case was adjourned for today in his presence. But is absent today. Heard the learned AR at length and finding that the matter can be disposed of in the absence of the counsel for the appellant-assessee, I take up the appeal for final disposal. 4. The learned AR supports the order-in-original and appeal and state that when the demand has been sustained for extended period the penalty should not have been reduced. 5. On going through the records and considering the case of the parties I find that, in the facts and circumstances, it is more a case of interpretation of the legal statute and no case is made out of any suppression, fraud or disregard to the provisions of law. The appellant-assessee, without a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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