9911796707
TMI Blog2013 (11) TMI 230X X X X Extracts X X X X X X X X Extracts X X X X ..... have not done - When the Appellants case is covered by the provisions of Rule 11(2) of CENVAT Credit Rules, and the provisions of this sub-rule are clear and unambiguous, the same have to be given effect to and there is no scope for giving an interpretation to the provisions of Rule 11(2) which is at variance from the natural grammatical meaning of the wordings of this rule - the appellants may have a good case and as such entire duty demand may not be within limitation period. Waiver of Pre-deposit - The appellant have already paid an amount along with interest - the amount already paid is sufficient for hearing of this appeal - The requirement of pre-deposit of balance amount of Cenvat Credit demand interest and penalty is waived for h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . The department s allegation is that each year while opting for SSI exemption at the beginning of the financial year, the appellant did not reverse the credit availed in respect of inputs lying in stock or in process or contained in final products lying in stock at the beginning of the financial year. On this basis show cause notice dated 5.1.2010 for demand of Cenvat credit Rs. 14,94,909/- for the period from 2006-07 to 2008-09 along with interest and also for imposition of penalty was issued. The Jurisdictional Additional Commissioner vide his order dated 11.2.2011 confirmed the above Cenvat credit demand along with interest and also imposed penalty of equal amount on the appellant. On appeal being filed before Commissioner (Appeals) aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... they were required to reverse the CENVAT credit availed in respect of the inputs lying in stock or in process or contained in final products lying in stock when they exercised option for SSI exemption for the next financial year. He pleaded that appellants have suppressed the relevant fact from the department and, hence, longer period has been correctly invoked. 5. We have considered the submissions from both sides and the perused the relevant documents on record. Prima facie, we are of the view that the appellants case is squarely covered by provision of Sub-rule (2) of Rule 11 of CENVAT Credit Rules, 2004, as this Rule is applicable in respect of a manufacturer who opt for exemption based on value on quantity of clearances in a financia ..... X X X X Extracts X X X X X X X X Extracts X X X X
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