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Preciforge & Gears Versus Commissioner of Central Excise, Pune-I

2016 (11) TMI 922 - CESTAT MUMBAI

Interest on the 50% amount of the credit availed and also imposition of penalty for violation of rules - capital goods and not inputs - Held that: - I find that the disputed items are in the nature of consumables and there can be a doubt regarding th .....

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t of credit availed earlier. In these circumstances, I find that there is no justification for imposing any penalty. The appeal is allowed. - APPEAL No. E/1373/11 - Order No. A/86735/16/SMB - Dated:- 22-3-2016 - Mr. Raju, Member (Technical) Ms. Padma .....

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e capital goods and therefore, the appellants are entitled to credit of 50% for the first year and balance 50% for the next year. The appellants were issued a show-cause notice seeking interest on the 50% amount of the credit availed and also imposit .....

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