2014 (6) TMI 421

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..... Respondent. ORDER Heard both sides. 2. The learned counsel appearing for the appellants states that the appellants are providing service as well as sales from their common premises and they were under the bona fide belief that they could take credit of tax paid on input services which they had utilized for both purposes. The amount of credit involved on services which have been utilized f .....

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..... case which is squarely covered under the provisions of Rule 15(1) of the CENVAT Credit Rules, 2004 which prescribes a maximum penalty of Rs. 2,000/- for taking or utilizing CENVAT credit wrongly. Hence the penalty of Rs. 71,965/- is reduced to Rs. 2,000/- (Rupees two thousand) only. The appeal is thus partly allowed. (Dictated and pronounced in open court)
Case laws, Decisions, Judgements, O .....

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