TMI Blog2019 (5) TMI 252X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts are very much clear and when the appellant has furnished the certificate from the Andhra Bank, the Department ought to have accepted the explanation put forward by the appellant - credit rightly availed. Time Limitation - HELD THAT:- Audit was conducted from 22.05.2014 to 29.05.2014. However, the Show Cause Notice has been issued only after two years on 27.06.2016 alleging that the appellant has availed credit on documents which are not issued in their name. In fact, when the appellant has explained the technical difficulty to open an account in their address since the PAN registration is in the address of the Srikakulam unit and when the audit has taken note of this in 2014, the Show Cause Notice issued alleging suppression of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2.2 A Show Cause Notice was issued proposing to disallow the credit of ₹ 9,42,035/- for the period from August 2011 to April 2014 and for recovery of the same along with interest and for imposing penalties. After due process of law, the Original Authority confirmed the demand, interest, appropriated the amount paid against the demand along with interest and also imposed equal penalty. In appeal, the Commissioner (Appeals) vide impugned order dated 29.06.2018 upheld the same. Hence, this appeal. 3.1 On behalf of the appellant, Ld. Advocate Shri. S. Sivaramakrishnan appeared and argued the matter. He submitted that the appellant has three manufacturing units one at Madapam Village in Gummidipoondi of Tamil Nadu State ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the credit saying that the credit will be disallowed if they do not adhere to the norms. The appellant therefore expunged the credit on the belief that there shall be no damage to their credit. They took ISD Registration at their Srikakulam unit and availed the credit in August 2014, which was reflected in their ER-1 returns for August 2014. However, after nearly two years, the appellant was issued the present Show Cause Notice appropriating the expunged credit, demanding interest on the expunged credit and also proposing to impose penalty. The adjudicating authority demanded interest from the date of taking credit to the date of expunging and imposed penalty as well, which is without any factual or legal basis. 3.3 It is s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heir Srikakulam unit. The appellant s registered office is at Srikakulam and the PAN is allotted to this Srikakulam address. Thus, as per the KYC norms, the very same address is reflected in all their bank accounts. This is very much clear from the certificate issued to them by Andhra Bank, Chennai, which reads as under : As per KYC norms stipulated by RBI we cannot open accounts with different address for the Customer ID with the same name. Hence the OCC account bearing No. xxxxxxxxxxxxxxx is related to Vamshadhara Paper Mills Ltd., Karambedu Village, Gummidipoondi Taluq and we hereby confirm that all the advices generated from OCC account bearing No. xxxxxxxxxxxxxxx are related to Vamshadhara Paper Mills Ltd., Gummidipoo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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