TMI Blog2008 (8) TMI 225X X X X Extracts X X X X X X X X Extracts X X X X ..... firmed from the date of availment of credit till the date of their entitlement to avail credit that is till 1-4-2001 – facts were already in knowledge of dept. so there is no mala fide on part of appellant so penalty not imposable - E/806/2008 - A/1745/2008-WZB/AHD - Dated:- 20-8-2008 - Ms. Archana Wadhwa, Member (J) S/Shri Nitin Mehta, Consultant and Nimesh Mehta, Advocate, for the Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted to make reverse entries in 2004 and again took credit subsequently. Accordingly, the appellant reversed the credit on 23rd April, 2004 and took credit on the same the very day. Subsequently, proceedings were initiated by way of issuance of show cause notice on 23rd December, 2005 proposing confirmation of interest and imposition of penalty upon them. The said proceeding culminated into an orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . In any case, submits the learned Advocate that they became entitled to avail the balance 50% of the credit as on 1-4-2001 and as such, if interest is required to be confirmed it should be till the date of their entitlement to avail credit that is till 1-4-2001, in which case, it will come approximately to around Rs. 1300/-. As such, he submits that the amount being small, he is not contesting th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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