2016 (9) TMI 838

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..... the Audit. Subsequently, they have also paid the interest. Both were done before the issuance of show cause notice. In the peculiar facts and circumstances of the instant case, the matter should have been concluded in accordance with the provisions of Section 11 A(2B) and there was no need for issuance of show cause notice, much lesser any imposition of penalty under Section 11 AC. Hence, the i .....

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..... T credit of ₹ 12,28,416/- on being pointed out by the Audit Party, and the interest much before the issuance of the show cause notice. The said facts are reflected in the show cause notice itself. His contention is that as per the provisions of Section 11 A(2B), there was no necessity for issuance of show cause notice, in the instant case. However, the department went ahead and issued sho .....

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..... the circumstances. 4. On careful consideration of the arguments of both sides and perusal of records, we find force in the arguments of the learned counsel for the appellants. It is not disputed that they have reversed the CENVAT credit immediately on being pointed out by the Audit. Subsequently, they have also paid the interest. Both were done before the issuance of show cause notice. In .....

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