2012 (9) TMI 106

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.... Per: M.V. Ravindran:   This Stay Petition is filed for waiver of pre-deposit of CENVAT Credit of Rs.9,27,04,652/-, interest thereof and equal amount of penalty imposed under CENVAT Credit Rules, 2004.   2. The above said amounts have been confirmed by the adjudicating authority on the ground that the appellant has to reverse the CENVAT Credit which is lying in his account after optin....

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....led in their manufacturing unit. It is his submission that the provisions of Rule 11 of the CENVAT Credit Rules, 2004 do not envisage reversal of CENVAT Credit availed of the Central Excise duty paid on capital goods as well as input services. They only envisage and provide for reversal of CENVAT Credit in respect of Central Excise duty paid on inputs.   4. Ld.D.R. reiterates the findings of....