9911796707
TMI Blog2011 (5) TMI 177X X X X Extracts X X X X X X X X Extracts X X X X ..... f penalty - imposition of penalty on the appellant in terms of Section 11AC was not called for - The appeal is disposed off - E/1764/2010 - - - Dated:- 13-5-2011 - Mrs. Archana Wadhwa, J. Shri R. Subramanya, Adv. for Assessee. Shri S.K. Mall, SDR for Revenue. Per: Mrs. Archana Wadhwa: After hearing both sides, duly represented by Shri R. Subramanya, ld.Advocate and Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T Credit Rules, 2004, they were required to avail 50% of the credit in the first year and balance 50% credit in the next financial year. However, the fact that they availed the entire 100% credit in the first year, will not make balance 50% as non-available to the appellant. Admittedly, the balance 50% credit was available in the next financial year. As such, the demand of duty cannot be confirmed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ies in the statutory records, no malafide can be attributed to them. 5. I find that the Tribunal in the case of V.V.F. Ltd. Vs. CCE Daman as reported in 2009 (246) ELT206 (Tri-Ahmd), while dealing with the identical issue has observed as under: 3.After hearing the learned S.D.R., I find that the appellants were admittedly entitled to the Modvat credit of the entire duty paid on the capital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er: 4.On a perusal of the records it is seen that the allegation against the respondent which result the confirmation of demand of duty was in respect of wrong availment of Cenvat credit on the capital goods. The respondents had availed 100% credit on the capital goods while they are permitted to avail only 50% credit. In all I find that the allegations on the respondents were falling short of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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