TaxTMI 
TaxTMI 
2010 (1) TMI 483
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.... Excise and Customs, Vadodara, has filed this Tax Appeal under Section 35-G of the Central Excise Act, 1944, proposing to formulate the following substantial question of law for determination and consideration of this Court : (1) Whether in the facts and circumstances of the case, the learned CESTAT was right in law and in allowing the Appeal of the respondent assessee after holding/treating viol....
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.... Central Excise duty chargeable on the HR coils used in the manufacture of CR coils cleared for consumption and paid the amount along with the interest under TR-6 Challans. The assessee has the credit of this amount in the PLA and thereafter used that credit for payment of duty on the final products CR coils and thereby nullifying the payment of duty on the diverted HR coils. The duty payable on t....
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....see as Cenvat Credit in their Cenvat credit Account and as such the whole exercise is a revenue neutral. The Commissioner has, however, taken the view that just because the duty paid on certain goods to be used as inputs is available as Cenvat credit, it does not mean that, no duty is required to be paid on those goods. He, accordingly, imposed penalty of Rs. 2 lacs on the assessee under Rule 25(1....