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TMI Blog2015 (11) TMI 765X X X X Extracts X X X X X X X X Extracts X X X X ..... not be available to them in the next subsequent month. Such wrong utilization invites confirmation of interest which is also required to be considered as penal in nature. However, admittedly, there has been contravention of law by the appellant repeatedly which in my view would invite some penal action against them. As such extending the benefit of doubt and after taking note of the fact that they were having sufficient balance in their PLA during the months of default and keeping in mind that appellant has already paid interest to the extent of ₹ 7,176/-, I impose a penalty of ₹ 10,000 - no reasons to confirm the demand. - Decided partly in favour of assessee. - E/2344/2010-SM - Final Order No. 21198 / 2015 - Dated:- 27-5- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ization of credit in contravention of the provisions of the said Rule 3(4) was unintentional inasmuch as they had a new accountant clerk, who was not aware of the provisions and accordingly mis-utilized the credit. It is the contention of the learned CA that during all these months they were having sufficient balance in their PLA and were in a position to use the PLA amount. In any case, the credit so availed was admittedly available to them during the succeeding months and by using it in the preceding month, they have not made the said credit available to them for the subsequent month. At the most it will attract some interest liability, which the appellant had discharged to the extent of ₹ 7,176/-. In this scenario, he prays that pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iew would invite some penal action against them. As such extending the benefit of doubt and after taking note of the fact that they were having sufficient balance in their PLA during the months of default and keeping in mind that appellant has already paid interest to the extent of ₹ 7,176/-, I impose a penalty of ₹ 10,000/- (Rupees Ten Thousand Only). 6.1 It is also seen that the lower authorities have confirmed the excess amount of CENVAT credit which stands wrongly utilised by them. Inasmuch as that credit was admittedly available to the assessee. I find no reasons to confirm the demand. The same is accordingly set aside. The appeal is disposed of in above terms. (Order pronounced in open court) - - TaxTMI - TMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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