TMI Blog2018 (6) TMI 1413X X X X Extracts X X X X X X X X Extracts X X X X ..... to December, 2013 audited during the period 26.01.2014 and 28.01.2014 and audit reports for January, 2014 to December, 2014 audited on 06.01.2015 - 21.01.2015. The said audit reports did not indicate any of the allegations made in the present show cause notice. It is also seen from the said show cause notice dated 17.05.2016, the basis for issuance of show cause notice is the audit report of the CAG - It is settled law in the case of Commissioner of Central Excise, Bangalore Vs. MTR Foods Ltd., [2012 (10) TMI 165 - KARNATAKA HIGH COURT] wherein, Hon’ble High Court of Karnataka has specifically held that once returns were regularly filed and no objections raised about same in first audit by Revenue Officers and during second audit, objectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sued for the demand of reversal of CENVAT credit availed on Marine Insurance and Air Travel Agent s services, on a ground that these services are ineligible to avail CENVAT credit; reversal of CENVAT credit availed on the machinery which was removed as such on the ground that they have not reversed the entire CENVAT credit availed. Appellant contested the issue on merits as well as on limitation. Both the lower authorities did not agree with the contentions raised and confirmed the demands raised along with interest and also imposed penalties. 5. Learned Counsel on 02.05.2018 when the matter was called out, submits that the lower authorities were in error in confirming the demands raised as Marine Insurance service is for the exports of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issued on 17.05.2016 for the various transactions on availment of CENVAT credit during the period May, 2013 to March, 2015. It is undisputed that the appellants were regular in filing the monthly returns with the authorities. The Audit reports submitted by the Learned Counsel are for period January, 2013 to December, 2013 audited during the period 26.01.2014 and 28.01.2014 and audit reports for January, 2014 to December, 2014 audited on 06.01.2015 - 21.01.2015. The said audit reports did not indicate any of the allegations made in the present show cause notice. It is also seen from the said show cause notice dated 17.05.2016, the basis for issuance of show cause notice is the audit report of the CAG. It is settled law in the case of Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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