2012 (11) TMI 301

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....handrasekharan 1. The appeal and stay application are directed against order-in-appeal No.PKS/305/BEL/2010 dated 20/09/2010 passed by the Commissioner of Central Excise (Appeals), Navi Mumbai. 2. The appellant, M/s.Wasp Pumps Pvt. Ltd., had cleared excisable goods during January to December 2005 without payment of duty on time. Duty was paid subsequently; however, interest thereon was not pa....

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....d, the appellant utilised Cenvat Credit account partly for payment of duties which was forfeited by the order of the original adjudicating authority and the adjudicating authority vide order dated 18/03/2010 confirmed the demand for an amount of Rs.62,157/- paid through the Cenvat Credit account wrongly and directed the appellant to make the payment in cash along with interest thereon. He also imp....

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.... 3.1 With respect to the imposition of penalty, the Ld. Consultant submits that the penalty imposed far exceeds the duty liability and therefore, the same is bad in law. 4. The Ld. Dy. Commissioner (AR) appearing for the revenue reiterates the findings of the lower authorities. 5. I have carefully considered the rival submissions. As the issue lies in a narrow compass, I take up the appeal....

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....the assessee is liable to pay excise duty for each consignment at the time of removal, without utilizing the Cenvat Credit till the date the assessee pays the outstanding amount including interest thereof and in the event of any failure, it shall be deemed that such goods have been cleared without payment of duty and the consequences and penalties as provided in these rules shall follow. Therefore....