2011 (7) TMI 566

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..... there can be no ground for denial of credit on technical ground, namely, that the invoices raised by M/s.Noritsu to Kodak India Ltd. and Kodak India Ltd. to the respondents were not proper documents as prescribed under Rule 9 of the CENVAT Credit Rules, 2004 for taking credit - Decided in fvaour of assessee. Penalty - As regards setting aside of penalty under Section 76 of the Finance Act, 1994 .....

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..... the Commissioner (Appeals) and it is against such extension that the Revenue is in appeal before the Tribunal. 2. The items in dispute are; 1) Film Scanner S-2 (with standard accessories) 2) Control Station CS-1-1 (with standard accessories) 3) Laser printer LP-1700 (with standard accessories) and 4) Paper Processor PP-1213 (with standard accessories). The Revenue is also in appeal a .....

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..... As regards setting aside of penalty under Section 76 of the Finance Act, 1994, I find that penalty under Section 78 has been retained by the lower appellate authority, although reduced. Since penalties under Section 76 and 78 cannot co-exist, there is no merit in the Revenue s case for restoration of the penalty under Section 76. However, as regards penalty under Section 77, it is required to be .....

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