9911796707
TMI Blog2016 (6) TMI 1089X X X X Extracts X X X X X X X X Extracts X X X X ..... pondent ORDER The Appellant is in appeal against the impugned order demanded an amount at the rate of 8% of their clearances of their exempted goods during the period from April, 199 to June 2000. 2. The facts of the case are that the appellant manufacture dutiable as well as exempted final products. During the period 1999-2000, the appellant procured inputs and availed credit thereon. As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... products be raised. He therefore, submitted that the appellant is ready to pay interest on applicable rate during the intervening period. He also submitted that as the appellant has already reversed the entire amount of credit availed by them instead of prorate credit. In that circumstance, the penalty is not imposable on the appellant under Finance Act, 2010. 4. On the other hand, learned ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e is sufficient. In the circumstances, we set aside the impugned order demanding an amount of 8% on the clearance of exempted goods. Reversal of the credit made by the appellant is sufficient but the appellant is directed to pay interest for the intervening period as per applicable rate within the period of 30 days from today. In these circumstances, no penalty is imposable on the appellant. 7.&n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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