2015 (1) TMI 84

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....lant. Shri R.K. Singla, Commissioner (AR), for the  Respondent. ORDER Learned counsel for appellant fairly says that ST-3 Return was belatedly filed to rectify mistake done in original return. 100% capital goods credit was taken in original return. But that was reduced to 50% filing revised return. Since revised return was belated, credit was held to be taken irregularly under the la....

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....ld that credit was availed for which levy of interest is justified and there shall be no interference to the levy of interest by the Tribunal. Interest demand is thus confirmed. 5. Insofar as the penalty under Rule 15(1) of CCR, 2004 is concerned, learned adjudicating authority imposed penalty of Rs. 62,04,375/- without following the doctrine of proportionality. Rule 15 of CCR, 2004 does n....