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TMI Blog2018 (4) TMI 941X X X X Extracts X X X X X X X X Extracts X X X X ..... nt decision of this Tribunal in the case of M/s Prayas Casting Ltd. [2012 (7) TMI 2 - CESTAT, AHMEDABAD], where it was held that Having reversed the ineligible availmaint of the CENVAT Credit on being pointed out by the Audit party, the appellant has shown their bonafide on admitting the error, penalty set aside - penalty not warranted - appeal allowed - decided in favor of appellant. - E/70748/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Department, it was revealed that the appellant had availed credit of Rs,6,00,591/- on phenol on the basis of dealer s invoice instead of proportionate credit amounting to ₹ 1,82,827/-. Thus, the appellant had taken excess credit of ₹ 4,17,764/-. Further, the appellant had taken 100% credit of ₹ 43,260/- whereas only 50% of the same was available to them as per law. Thus, credi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l for the appellant submitted that appellant had mistakenly taken excess Cenvat credit on inputs capital goods. On being pointed out, they immediately reversed the credit much before the issuance of SCN. He further submitted that there is no case of fraud, suppression, etc. and prayed for non imposition of penalty on them. He further relies on the decision of this Tribunal in the case of M/s Pra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d out the error of availment of excess Cenvat credit. The assessee reversed the inadmissible Cenvat credit on 5-3-2007, but did not pay the interest. Subsequently, the interest was also paid by the assessee. The stand of the assessee before the lower authorities that it was inadvertent mistake and there was no mala fide in availing the ineligible excess credit. On perusal of the Show Cause Notice, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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