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2016 (9) TMI 838 - CESTAT AHMEDABAD

2016 (9) TMI 838 - CESTAT AHMEDABAD - TMI - Imposition of penalty - Section 11AC of the Central Excise Act, 1944 - appellant have reversed the CENVAT credit and interest before issuance of show cause notice - Held that:- it is not disputed that they have reversed the CENVAT credit immediately on being pointed out by the Audit. Subsequently, they have also paid the interest. Both were done before the issuance of show cause notice. In the peculiar facts and circumstances of the instant case, the m .....

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Appellant (s) : Shri D. K. Trivedi, Advocate For Respondent (s) : Shri Alok Srivastava, Authorised Representative ORDER Heard both sides and perused the records. 2. The issue involved is whether penalty under Section 11 AC of the Central Excise Act, 1944, is imposable on the appellants even when they have reversed the CENVAT credit and interest before issuance of show cause notice. The Learned Counsel for the appellants submitted that they had reversed the wrongly availed the CENVAT credit of &# .....

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at the said penalty is not imposable on them. 3. On the other hand, the Learned Authorised Representative for Revenue submits that the appellants are a Central Excise Assessee and are expected to know the law, rules and regulations. However, they have been found to be repeatedly taking irregular credit and at times reversing the same by themselves and at times on being pointed out. In the instant case also, they had taken CENVAT credits irregularly which were detected by the Audit Party. His con .....

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