2007 (1) TMI 405

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..... grieved with the order passed by the Commissioner (Appeals), vide which he has set aside the personal penalty of Rs. 1,05,241/-imposed upon the respondents under Section 11AC of Central Excise Act, 1944, revenue has preferred the present appeal. 2. The dispute, as regards the duty, relates to Cenvat credit availed in respect of the capital goods, in respect of which the appellants also claimed d .....

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..... ame was not utilized and was reversed by the assessee at the insistence of the revenue, there is no justification for imposition of penalty. The appellant submits that though the credit was availed but the same was not utilized by them and was lying unutilized in the records, imposition of penalty was not justified. 4. In view of the above factual position read with the ratio of the Larger Bench .....

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