TaxTMI 
TaxTMI 
2025 (1) TMI 671
X X X X Extracts X X X X
X X X X Extracts X X X X
....lently availed Cenvat Credit which merits recovery in terms of Rule 14 of CC Rules read with proviso (1) to Section 11A of the Act. Penalty under Rule 13 of erstwhile Cenvat Credit Rules, 2002 and under Rule 15 of CC Rules, 2004 has been correctly imposed against Appellant by the adjudicating authority. Therefore the order-in-original confirming the demand of Rs. 8,09,566/- alongwith equal penalty is upheld." Aggrieved by the said order, the appellant filed the present appeal before us. 2. No one has appeared on behalf of the appellant; heard the learned Authorized Representative for the Revenue and perused the material on record. 3. The learned Authorized Representative for the department submits that a petition was filed before the NCL....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... that the appeals stand abated once the Resolution Plan has been approved by NCLT and the CESTAT has become functus officio in the matters relating to this appeal. It is pertinent to reproduce the relevant findings of the coordinate benches on the issue which are reproduced herein below:- "4. We also find that the matter is no more res integra, as the Hon'ble Supreme Court in Civil Appeal No. 8129 of 2019, in the case of Ghanashyam Mishra and Sons Pvt. Ltd. Vs. Edelweiss Asset Reconstruction Company Ltd. & Ors. vide judgement dated 13.04.2021, had decided the settled position of law, as under:- "2. The short but important questions, that arise for consideration in this batch of matters, are as under:- (i) As to whether any creditor i....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ot part of the resolution plan; (ii) 2019 amendment to Section 31 of the I&B Code is clarificatory and declaratory in nature and therefore will be effective from the date on which I&B Code has come into effect; (iii) Consequently all the dues including the statutory dues owed to the Central Government, any State Government or any local authority, if not part of the resolution plan, shall stand extinguished and no proceedings in respect of such dues for the period prior the date on which the Adjudicating Authority grants its approval under Section 31 could be continued." 5. We also find that CBIC has vide Instruction No.1083/04/2022-CX9 dated 23.05.2022 has laid down the guidelines in the form of Standard Operating Procedure (SOP) for ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....olvency professional. 2. A timeline of 90 days from the insolvency commencement date is available for filing of claims. However, it has been observed that there is an inordinate delay in filing of claims by Customs and GST authorities. This leads to their claims not being admitted and extinguished once a resolution plan is approved. It is also observed that the authorities then litigate on the rejection of each claims, despite the settled position that no claims can be raised once the plan is approved and no demands can be raised on the Resolution Applicant who has taken over the company through such a resolution plan." 6. Appellant-assessee has also claimed that the refund of pre-deposit to be paid to them at the time of filing the cap....