2014 (1) TMI 327

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....ER Per Dr. D. M. Misra : This is an application for waiver of pre-deposit of cenvat credit of Rs.71,41,413/- and equal amount of penalty imposed under Rule 15 of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 and personal penalty of Rs.25,00,000/- on Shri Hemant Jain, Director of the Applicant Company, under Rule 26 of the Central Excise Rules, 2002. 2. The....

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....ion on their part nor any evidence that the MS Ingots, were not used in the factory in or in relation to the the manufacture of their final product. He has further submitted that all the payments were made in cheque and there is no suppression of facts whatsoever. The ld. Advocate has further submitted that during the course of investigation, they have deposited an amount of Rs.10.00 lakhs and he ....

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.... factory. Accordingly, the said inputs must not have been used in or in relation to the manufacture of final product. The determination of the issue rest on the appreciation of evidences collected by the Department and rebutted by the applicant. We find that the applicants have already deposited an amount of Rs.10.00 lakhs during the course of investigation. Now, the ld. Advocate has made a fair o....