2014 (1) TMI 625

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.... ORDER PER DR. D.M. MISRA: By the present application, the applicant sought waiver of pre-deposit of Cenvat Credit of Rs.3,76,54,534.38 and equal amount of penalty imposed under Rule 15 of Cenvat Credit Rules,2004 read with Section 11AC of the Central Excise Act,1944. 2. Narrating the facts, in brief, the Ld. Advocate Shri Vipin Jain for the Applicant has submitted that the Applicant had avail....

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....the basis of some calculation of the use of input Naptha, in the generation of steam & electricity, a demand notice was issued to them on 10.12.2009 for recovery of the inadmissible CENVAT Credit, mentioned above, for the period from January 2005 to July 2009. The Ld. Advocate has submitted that the entire data relating to consumption of Naptha and generation of electricity and steam out of the sa....

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....g consumption of Naptha had been submitted with the department periodically and the correctness of the said date were not in dispute, but the burden of availing the admissible amount of CENVAT Credit only lies on the assessee as presribed under the CENVAT Credit Rules,2004, which the Applicant failed to do, accordingly, the extended period of limitation is applicable in the present case. 4. Heard....

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....onclusion that the amount of CENVAT Credit debited by the Applicant, were not correct. This is apparent from the finding of the Ld. Commissioner and also accepted by the Ld. A.R. for the Revenue. Thus, Prima facie, we do not find merit that incorrect interpretation of data by the assesse, would result in suppression of fact or mis-statement of fact. In these circumstance, the offer made by the Ld.....