2014 (1) TMI 1062

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..... Chacko; This application filed by the appellant seeks waiver and stay in respect of the following amounts :- (a) Rs. 27,03,26,025/- demanded as Central Excise duty for the period from September 2007 to March 2010 on the ground that CENVAT credit on capital goods and inputs was taken to this extent and utilised for payment of duty on final products. (b) Equal amount imposed as penalty. On a p....

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....s which were used by JSWEL in setting up the power plant. According to the appellant, the ownership of the power plant did not stand in the way of their entitlement for CENVAT credit. The learned counsel for the appellant and the learned Commissioner (AR) have sought to elaborate the respective view points before us. We have not found prima facie case for the appellant on merits inasmuch as the ca....

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.... by the appellant and JSWEL and utilisation thereof in setting up of the power plant were also intimated to the department. The factum of availment of CENVAT credit on such capital goods and inputs was disclosed to the department through ER-1 Returns filed from time to time. In this scenario, no suppression of facts can be attributed to the appellant. The learned counsel points out that the adjudi....