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TMI Blog2016 (7) TMI 592X X X X Extracts X X X X X X X X Extracts X X X X ..... R PER SRI H.K.THAKUR 1. This Appeal has been filed by the Appellant with respect to Order-in-Appeal No. 30/Kol-V/2011 dated 02.03.2011 passed by the Commissioner of Central Excise,(Appeals-I), Kolkata. 2. Sri B.N.Pal, Advocate appearing on behalf of the Appellant argued that the issue involved before the lower authorities was simultaneous availement of Cenvat Credit on capital goods and also cl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been wrongly calculated. 3. On the issue of penalty it was the case of the Appellant that once Cenvat Credit wrongly taken was reversed then no penalty is attracted under Rule 15(2) of the Cenvat Credit Rules, 2004 read with section 11AC of the Central Excise Act, 1944. 4. Sri S.S.Chatterjee, Suptd.(AR) appearing on behalf of the Revenue argued that methodology for calculating Cenvat Credit, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Appellant. Appellant should also produce all the relied upon documents, including chartered accounts certificate produced before this bench. Needless to say that a personal hearing should be extended to the Appellant for explaining their case regarding correct calculation of Cenvat Credit required to be reversed. 6. On the issue of imposition of penalty it has been observed by the First Appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... culated and Appellant will be entitled to option to pay 25% of such reduced penalty on the redetermined amount, along with interest, and 25% reduced penalty under Section 11 AC, if these amounts are paid within one month from the date of receipt of final order passed by the Adjudicating Authority in the remand proceeding. 7. Appeal filed by the Appellant is allowed to the extent indicated hereina ..... X X X X Extracts X X X X X X X X Extracts X X X X
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