9911796707
TMI Blog2014 (7) TMI 610X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee. In such a scenario, the law declared by the Hon’ble High Court of Karnataka in the case of Bill Forge, [2011 (4) TMI 969 - KARNATAKA HIGH COURT] would apply. Confirmation of interest set aside. Penalty under Rule 15(1) of CENVAT Credit Rules, 2004 - In terms of provisions of Rule 15(1) of CENVAT Credit Rules, 2004, which provides for imposition of penalty not exceeding the duty or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Archana Wadhwa, J. For the Appellant : Ms. Jaydeep, Advocate For the Respondent : Ms. Suchitra Sharma, DR JUDGEMENT Per Hon ble Mrs. Archana Wadhwa : The very short issue involved in the appeals is that the appellant availed CENVAT credit of duty paid on the capital goods to the extent of 100% during the financial year 2004-05, 2005-06 and 2006-07, whereas they were req ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tself, but they have utilised 50% of the credit after their entitlement to the same. As such, he set aside the confirmed duty demand but confirmed the interest and imposed penalty of ₹ 25,000/-. Hence, the present appeal. 4. Ld. Advocate appearing for the appellant submits that the demand in question is barred by limitation having been raised beyond the normal period. She submits that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... due to the assessee. In such a scenario, the law declared by the Hon ble High Court of Karnataka in the case of Bill Forge, supra would apply. The said decision stands followed by the Tribunal in number of subsequent judgements. One such reference can be made in the case of Balrampur Chinni Mills Ltd. Vs. CCE, Allahabad [2013 TIOL-1142-CESTAT-Delhi]. In terms of the law declared by the Hon ble Hig ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
