2014 (10) TMI 373

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....nt. Ms. Suchitra Sharma, DR, for the Respondent. ORDER The appellants are engaged in the manufacture of MS ingots. Their factory was visited by the officers on 4-12-2008, who conducted various checks and verifications. As a result, shortage of 130.175 MT of inputs, i.e., sponge iron was detected. The appellants accepted the said shortage and reversed the Cenvat credit of Rs. 3,52,899/- on....

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....of Cenvat Credit Rules, 2005 by the Asst. Commissioner of Central Excise without specifying any sub-rule of the said Rule. Even, the Commissioner (Appeals) has observed that penalty stands imposed under Rule 15 without specification of any sub-rule. 5. I have seen Rule 15 of Cenvat Credit Rules, 2004. Sub-rule (1) of the said Rule provides imposition of penalty not exceeding the duty on th....