2008 (10) TMI 490

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Asmita Nayak, Advocate, for the Respondent. [Order]. -  The dispute in this appeal by the Revenue is limited to the imposition of penalty. The adjudicating authority confirmed the demand of Rs. 2,58,729/- with interest and also imposed penalty of equal amount with option as contemplated in Rule 11AC of the Central Excise Act. The respondent did not dispute the confirmation of demand. T....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... credit upto 31-3-2003 as the notification came into effect from 1-4-2003. The respondent in the ordinary course as per the terms of the notification should have reversed the credit as it opted to take the benefit of exemption. However, they did so only on 15-4-2003 after the audit pointed out the irregularity in course of the visit of the premises on 8-4-2003. The case of the respondent is that t....