9911796707
TMI Blog2016 (11) TMI 265X X X X Extracts X X X X X X X X Extracts X X X X ..... dies during the period October, 2003 to May, 2004 - the appellant have calculated the interest element and paid the same on the excess credit so taken in for the first year under intimation to the Revenue, before the issue of show cause notice - Appeal allowed. - E/3009/2007(SM) - 70737/2016 - Dated:- 23-8-2016 - Shri Anil Choudhary, Judicial Member Appellant: Shri Atul Gupta, Advocate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat is 50% in the first year and balance 50% in the subsequent year. The appellant under the terms of Circular dated 22/9/2003 took 100% credit on the moulds and dies acquired during the period October 2003 to May 2004. Revenue audit was held in the premises of the appellant during the period 15/6/2004 to 20/6/2004. Subsequently Revenue issued letter dated 19/10/2004 objecting among others the tak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ther in that year in returns or by any other means to intimate the availment of irregular Cenvat credit on capital goods. Thus it appeared that the appellant have wilfully suppressed the relevant information from the Revenue. 5. Being aggrieved the appellant assessee appeared before ld. Commissioner appeals who vide the impugned order have been pleased to modify the demand by sustaining the Lev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iness. The show cause notice have been issued on the basis of the records maintained. Thus there is no element of fraud and/or suppression on the part of the appellant. As such the show cause notice is bad for invoking the extended period of limitation. Accordingly prays for allowing the appeal. 7. Learnedly A.R. for revenue relies on the impugned order. 8. Having considered the rival conten ..... X X X X Extracts X X X X X X X X Extracts X X X X
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