2013 (11) TMI 1179

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Per P.K. Das; 1. Heard both sides and perused the records. 2. The applicant is engaged in the manufacture of iron and steel products classifiable under Chapter 72 of Central Excise Tariff Act, 1985. During the period December 05, Jan 06 and Nov 06, they availed cenvat credit of Rs.41,09,664/-. It was noticed by the Central Excise officers during audit that they availed the credit irregula....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....vat credit of Rs.41,09,664/- was disallowed and appropriated the amount as already paid by TR-6 challan dt. 5.7.07. It also disallowed re-credit of Rs.41,09,664/- suo moto along with interest and also appropriated interest amount of Rs.7,29,481/- as already paid by them. The penalty of equal amount of duty was imposed under Rule 15 (2) read with Section 11AC of the Central Excise Act for wrong ava....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....elies upon several case laws. He also submits that imposition of further penalty of Rs.10,18,989/- equal amount of duty allegedly utilized is not sustainable. He submits that the said amount is included in the amount of Rs.41,09,664/-, which they paid by cash. 4. Ld. AR reiterates the findings of the Commissioner (Appeals). He submits that there is no provision in the Central Excise law for ava....