TMI Blog2018 (2) TMI 1671X X X X Extracts X X X X X X X X Extracts X X X X ..... initially availed Cenvat credit twice on the same input invoice which they later reversed voluntarily before being pointed out by the department. Also, they have paid the interest of ₹ 97,736/- being pointed out by the audit department. When the entire amount of credit was reversed by the appellant before being pointed out by the department alongwith interest, therefore, imposition of penalt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... luntarily before being pointed out by the department. 4. The Ld. Advocate Shri Dhaval Shah for the appellant submits that the appellant had availed Cenvat credit on the same input invoices twice, however, realizing their mistake, the credit of ₹ 14,56,148/- was reversed by them on 02.02.2009 on being pointed out by the Audit Team. They had also reversed input service credit of ₹ 2,4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hey later reversed voluntarily before being pointed out by the department. However, they have not paid the interest of ₹ 97,736/. The entire amount of credit was reversed by the appellant on being pointed out by Audit, before issue of Notice and there was no suppression of facts of misdeclaration has been established. Therefore, in my opinion, imposition of penalty equal to the credit availe ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
