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TMI Blog2016 (4) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... issuance of show cause notice. The appellant reversed the credit and deposited the interest vide GAR-7 Challans dated 17.10.08 and 15.02.2011. But show cause notice dated 18/03/2011 was issued to the appellant and proceedings were initiated. Sub clause (2B) of Section 11A provides that when duty has been so paid no notice shall be served on the assessee. Therefore the penalty imposed is totally unjustified. The same are set aside. - Appeal No. E/59446 & 59447/2013-EX(SM) - Final Order No.52718-52719/2015 - Dated:- 1-9-2015 - MS. SULEKHA BEEVI C.S., MEMBER (JUDICIAL) For the Petitioner : Shri Bipin Garg, Advocate For the Respondent : Shri R.K. Gupta, DR ORDER PER: SULEKHA BEEVI C.S. The allegation raised against ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... capital goods in the same financial year. That appellant suppressed material facts with intent to evade payment of duty. A Show Cause Notice dated 18.3.2011 was issued which finalized in the order dated 10.1.2012 which disallowed the credit of ₹ 18,59,650/- and confirmed the liability of interest and appropriated the credit reversed and interest deposited. A penalty of equal amount was imposed, besides separate penalty of ₹ 1,50,000/- on Shri G.S. Rajput, Vice President of M/s Kotsons (P) Ltd. The learned Counsel for the appellant referred to Rule 10 of the Cenvat Credit Rules and contended that sub clause (2) of Rule 10 permits utilizing the credit when the credit was lying unutilized in the accounts of the assessee. The learne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le 15 read with 11AC is imposed upon the appellants besides separate penalty upon the Vice President under Rule 26 of Central Excise Rules. The appellant has reversed the credit alongwith interest before the issuance of show cause notice. The appellant reversed the credit and deposited the interest vide GAR-7 Challans dated 17.10.08 and 15.02.2011. But show cause notice dated 18/03/2011 was issued to the appellant and proceedings were initiated. Sub clause (2B) of Section 11A provides that when duty has been so paid no notice shall be served on the assessee. Therefore the penalty imposed is totally unjustified. The same are set aside. 6. In the light of the above discussions, the impugned order is modified to the extent of setting aside ..... X X X X Extracts X X X X X X X X Extracts X X X X
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