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TMI Blog2013 (2) TMI 591X X X X Extracts X X X X X X X X Extracts X X X X ..... - Appellant is not disputing the in eligible CENVAT Credit availed by them and has reversed the same along with interest. It seems to be unwarranted as the appellant would not have any reason to utilize the amount as he has enough balance in CENVAT account. Therefore, penalty imposed on the appellant is unwarranted and needs to be set aside. In favour of assessee - E/400/2012 - - - Dated:- 7-9-20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submission that the appellant, during the material period, availed the CENVAT Credit on the strength of photocopies of the invoices, the goods which were considered neither input nor the capital goods, availed 100% credit on the capital goods instead of availing 50% credit and did not calculate the amount of credit correctly as per the formula, for the inputs which is received from an 100% EOU. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce of Rs.2 crores and above, on perusal of the records, he confirms that the appellant had enough credit during the relevant period. 5. After considering the submissions made by both sides,I find that the appellant is not disputing the in eligible CENVAT Credit availed by them and has reversed the same along with interest. To that extent, I uphold the order of first appellate authority and rejec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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