2013 (12) TMI 1191

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..... ORDER Per Dr. D.M. Misra 1. This is an application seeking waiver of pre-deposit of CENVAT Credit of Rs.3.05 Crores and equal amount of penalty imposed under section 11AC read with Rule 15 of CENVAT Credit Rules, 2004. 2. Shri S. C. Mohanty, Ld. Advocate for the applicant submitted that during the period January, 2004 to March, 2008 they have removed scrap of inputs and capital goods. It is h .....

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..... were not liable to reverse credit for the period 2003-04, 2004-05 and up to 16.05.2005. If the amount mentioned in the annexure to the demand notice against this period is removed then the liability would come down to about Rs.38 Lakhs. 3. Ld. A.R. reiterated the findings of the Ld. Commissioner and fairly accepted that prior to 16.6.2005, there was no provision prescribed for reversal of credit .....

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