2014 (1) TMI 326

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....penalty of Rs.3,08,823/- imposed under Rule 15(2) of CENVAT Credit Rules, 2004 read with Section 11 AC of the Central Excise Act, 1944. 2. Heard both sides and perused the records. 3. The applicant is engaged in the manufacture of sugar. They availed CENVAT credit on input and input service used in the generation of electricity. It has been alleged that they have used the electricity generated f....

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....it. It is also contended that had the audit party not detected the irregularity, the amount would not have come to the Government Exchequer. He relied upon the decisions of the Hon'ble Supreme Court in the cases of Punjab Tractors Ltd. Vs. CCE 2005 (181) ELT 380 (SC) and Union of India Vs. Rajasthan Spinning & Weaving Mills 2009 (238) ELT 3 (SC). 4. I find from the records that the applicant avai....