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M/s Gujarat Plast Industries Versus Commissioner of Central Excise-Ahmedabad-I

2016 (9) TMI 838 - CESTAT AHMEDABAD

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 .....

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ce with the provisions of Section 11 A(2B) and there was no need for issuance of show cause notice, much lesser any imposition of penalty under Section 11 AC. Hence, the imposition of penalty under Section 11AC in the impugned order-in-original is no .....

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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 wh .....

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e Audit Party, and the interest much before the issuance of the show cause notice. The said facts are reflected in the show cause notice itself. His contention is that as per the provisions of Section 11 A(2B), there was no necessity for issuance of .....

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. 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 irregul .....

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etected in same, it would have escaped notice. He therefore contends that the penalty is rightly imposed on the appellants, under the circumstances. 4. On careful consideration of the arguments of both sides and perusal of records, we find force in t .....

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