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2016 (8) TMI 623 - CESTAT CHANDIGARH

2016 (8) TMI 623 - CESTAT CHANDIGARH - TMI - Period of limitation - Whether the show cause notice is barred by limitation or not - show cause notice issued by invoking the extended period of limitation and only defence taken by the appellant that due to inadvertent mistake, they could not reverse the credit of AED - Held that:- the appellant has taken the credit of CVD and AED at the time of procurement of inputs. The appellant is required to reverse the credit of CVD as well as AED at the time .....

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y the appellant is confirmed and appropriated. - Whether the interest is payable by the appellant for intervening period or not - Held that:- as already observed that the appellant has not utilized the credit pertaining to AED during the intervening period, therefore, the appellant is not required to pay interest for the intervening period in view of the decision of Hon'ble Karnataka High Court in the case of Bill Forge Pvt.Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT]. - Whether the ap .....

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:- 28-6-2016 - Mr. Ashok Jindal, Member (Judicial) Present for the Appellant: Shri Ajay Jain, Advocate Present for the Respondent: Shri Atul Honda, Advocate ORDER The appellant is in appeal against the impugned order wherein the demand of interest has been confirmed and penalty equal to reversed credit is also imposed. 2. The facts of the case are that the appellant imported certain inputs and availed credit of CVD as well as AED. The appellant cleared these inputs without utilizing the same in .....

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d to impose penalty on the appellant. Both lower authorities appropriated the amount aIready reversed and confirmed the demand of interest, penalty equal to already reversed credit is also imposed. Aggrieved with the said order, the appellant is before me. 3. Learned Counsel for the appellant submits that the appellant could not reverse the credit of AED inadvertently as the regular accountant was on leave and part time accountant was maintaining the records. Due to their inadvertent mistake, th .....

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the other hand, learned AR opposed the contention of the learned Counsel and submitted that in this case the appellant has admitted their liability of reversal of credit and reversed the same and the same is not disputed by the appellant. Therefore, at this stage, the appellant cannot make plea that the extended period of limitation is not invokable. Therefore, the appellant is required to be penalized. To support this, he relied on the decision of Apex Court in the case Ind-Swift Laboratories .....

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