TMI Blog2016 (11) TMI 776X X X X Extracts X X X X X X X X Extracts X X X X ..... puts were found short. The revenue has presumed that these inputs have been used in manufacturing of final product. The Revenue has not adduced any evidence that these inputs have been used in manufacturing of final product and final product has been cleared by been produced by the Revenue, therefore, duty cannot be demanded, merely, on presumption. In that circumstance, I do not find any infirmit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the respondent PER: ASHOK JINDAL The Revenue as well as the assessee and its manager are in appeal against the impugned order. 2. The brief facts of the case are that the factory of the assessee was visited on 02.09.2001 and 04.09.2007 by the audit team. During the visit certain inputs were found short, therefore, the proceedings were initiated against the assessee on the premises with ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gave the benefit and hold that reversal in sufficient but imposed the penalty on the assessee 25% of the Cenvat Credit reversed and penalty of ₹ 25000/- on the manager. Aggrieved from the said order to demand penalty on the assessee as well as its manager, they are in appeal and for the dropping the demand by the Ld. Commissioner (A), the Revenue is in appeal. 3. The Id. AR appearing on b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stances, merely reversal of cenvat credit on inputs is sufficient, therefore, to qua dropping the demand against the assessee. There is no infirmity in the impugned order. He prayed that as the assessee has reversed the cenvat credit along with interest before issuance of the show cause no ice within the same month, therefore, the penalty is not imposable. 5. Heard both the sides. 6. In this ..... X X X X Extracts X X X X X X X X Extracts X X X X
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