2008 (7) TMI 789

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.... Shri A.K. Rastogi, DR, for the Respondent. [Order]. -  The relevant facts of the case, in brief, are that the Appellants availed full Cenvat credit (i.e. 100%) on the capital goods in the same financial year. Upon detection by the Central Excise Officers, they reversed 50% credit in the same financial year. The Adjudicating Authority confirmed the demand of duty of Rs. 1,15,596/- an....

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....ly availed the Credit and, therefore, interest and penalty are justified. He further submits that the case laws relied upon by the ld. Advocate is in connection with the imposition of penalty under Section 11 AC of the Central Excise Act, 1944. 4. After hearing both the sides and on perusal of the records, it is revealed from the Adjudication Order that the Appellant did not utilise the ex....