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TMI Blog2016 (12) TMI 1213X X X X Extracts X X X X X X X X Extracts X X X X ..... . It is the case of the appellant that penalty cannot be imposed upon them as the inputs were used in the manufacture of finished goods exported under bond. However, Ld. Advocate appearing for the appellant could not correlate the fact that inputs used in the manufacture of finished goods exported under bond. It is observed from Order-in-Appeal dated 31/3/2014 passed by the first appellate authori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the option of 25% reduced penalty imposed under Rule 15 (2) of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944, provided the above amount of reduced penalty is paid within one month from the date of receipt of this order. Appeal disposed off - decided partly in favor of appellant. - Appeal No. E/75916/2014-SM - Final Order No. A/75829/KOL/2016 - Dated:- 16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oods were exported out of India under bond. That appellant could have claimed rebate after payment of duty on the finished goods and there would have been no confusion to the effect of availing irregular CENVAT Credit. It was his case that appellant is not liable to any penalty which should be set aside. 3. Shri K. Choudhary, Supdt. (A.R.) appearing for the Revenue argued that no documentary ev ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cture of finished goods exported under bond. However, Ld. Advocate appearing for the appellant could not correlate the fact that inputs used in the manufacture of finished goods exported under bond. It is observed from Order-in-Appeal dated 31/3/2014 passed by the first appellate authority that reasons have been given by upholding equivalent penalty imposed upon the appellant. Under the self-asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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