9911796707
TMI Blog2016 (12) TMI 901X X X X Extracts X X X X X X X X Extracts X X X X ..... credit taken, if any - no case of suppression or contumaciously conduct is made out against the respondent-assessee - appeal dismissed - decided against Revenue. - Appeal No.E/60717/2013- [SM] - FINAL ORDER No.70847/2016 - Dated:- 31-3-2016 - MR. ANIL CHOUDHARY, MEMBER (JUDICIAL) Shri Ashutosh Nath (Asstt. Commr.) A.R., for the Department Shri Mayank Garg (Advocate), for the Responde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for the year 2007-08, during audit for the period April, 2009 to March, 2010, it revealed that plant and machinery of all the rolling mills, which was closed since 1997-98 were sold for ₹ 1,10,79,390/- as waste and scrap without payment of duty. Thus, it appeared that the respondent-assessee was liable for duty of ₹ 18,25,883/-, calculated @ 16.40% on the transaction value under sub-ru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , there is no question of payment of any duty, by reversal on its disposal. The SCN was confirmed vide Order-in-Original dated 07-08-2012 and further equal amount of penalty was imposed under Section 11 AC of the Act. 4. Being aggrieved, the appellant had filed appeal before Learned Commissioner (Appeals), who has been pleased to allow the appeal recording a finding that there is no indication ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondition precedent both in Rule 3 (5A) and in rule, Rule 3 (5) of CCR, that Cenvat Credit is required to be reversed on disposal of capital assets only where Cenvat credit/Modvat credit was taken at the time of acquisition or purchase of the asset. Under the admitted fact that no Modvat/Cenvat credit was taken when the plant and machinery was required during the period 1989-92, when no Modvat Sche ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , if any. I also find that no case of suppression or contumaciously conduct is made out against the respondent-assessee. As such the show cause is bad invoking the extended period of limitation. Accordingly, I dismiss the appeal of Revenue, the respondent-assessee will be entitled to consequential benefit, if any, in accordance with law. (Pronounced in the open Court) - - TaxTMI - TMITax - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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