2011 (8) TMI 228

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.... as on the Managing Director and also another penalty equal to cenvat credit demanded under Rule 25 of Central Excise Rules on the first appellant.   2. Shri Alkesh Thakrar, Managing Director appearing on behalf of the appellants submitted that the wrong availment of cenvat credit happened because of lack of knowledge and clerical mistake and as soon as the appellant was informed of the mistake and wrong credit availed, the amount was promptly reversed. Further, he also submits that appellant had availed more than Rupees Seven lakhs as cenvat credit during the relevant period, therefore the question of deliberate wrong availment of credit of Rs. 31,700/- does not arise. He also submits that even though they could have contested the de....

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....y intentionally but it was due to clerical mistake or oversight that such wrong credit availment had happened. He also took note of the submissions that entire amount was paid by them when the same was pointed out without any dispute and the request not to impose any penalty. Further, while recording discussions and finding, he has imposed penalty on both SEPL and the Managing Director and he has simply stated that assessee and Managing Director are liable to penalty as proposed in the show cause notice. The relevant two Paragraphs are reproduced as below :-   I also find that the assessee is liable for imposition of penalty as proposed in the show cause notice under the proviso of Rule 15 of Cenvat Credit Rules, 2001 and Rule 25 of C....