2012 (10) TMI 826

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....Sarvaiya, A.R.: for Revenue. Per: M.V. Ravindran: This Stay Petition is filed for waiver of pre-deposit of an amount of CENVAT Credit sought to be reversed by the Revenue along with interest and equal amount of penalty imposed. 2. After hearing both sides for some time, I find that the appellant has already reversed the CENVAT Credit as it was pointed out by the audit party and has file....

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....mission that out of all the services, one in-eligible CENVAT Credit which they have availed is in respect of the invoices issued in the name of M/s Amal Products Limited which is not in the name of M/s Atul Limited, the present assessee. It is his submission that though they have paid the amount under protest, they are not contesting the issue on merit. 6. Ld. D.R. of the Revenue reiterates the....

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....irty days from the date of receipt of this order and report compliance to adjudicating authority of the jurisdictional Assistant Commissioner. 9. As regards the penalty imposed, I find that the penalty has been imposed under Rule 15 of CENVAT Credit Rules, 2004 read with Section11AC of Central Excise Act, 1944. On perusal of the records, I find that the appellant has reversed the CENVAT Credit ....