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TMI Blog2009 (5) TMI 794X X X X Extracts X X X X X X X X Extracts X X X X ..... han, SDR, for the Respondent. [Order]. The appeal filed by the assessee is against (a) the demand of interest (of Rs. 47,227/-) under Section 11AB of the Act read with Rule 14 of the CENVAT Credit Rules, 2004, on an amount of CENVAT credit found to have been wrongly taken; and (b) a penalty (of Rs. 2.75 lakhs) imposed under Rule 15 of the above Rules read with Section 11AC of the Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the extent of Rs. 3,02,026/-. This was done according to their own calculations. Later on, they received a show-cause notice, wherein demand of interest and proposal for penalty were made under Rule 14 and Rule 15(2) respectively of the CENVAT Credit Rules, 2004. The above interest was demanded on the amount of CENVAT credit of Rs. 8,58,950/- as worked out by the department and affirmed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Credit Rules, 2004 on the facts of this case. On this basis, the authorized representative has also contested the Revenue s appeal wherein penalty equal to CENVAT credit (Rs. 8,58,950/-) is sought to be imposed on the respondent (assessee) under Section 11AC read with Rule 15. 3. The D.R. reiterated the grounds of the Revenue s appeal. 4. I have given careful consideration to the submissions. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... input or capital goods has been taken or utilized wrongly on account of fraud, wilful misstatement, collision or suppression of facts, or contravention of any of the provisions of the Excise Act or the rules made thereunder with intention to evade payment of duty, then, the manufacturer shall also be liable to pay penalty in terms of the provisions of Section 11AC of the Excise Act. The above p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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