2015 (2) TMI 516

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....hy Appellant is a SSI unit and on the ground that appellant had not reversed the CENVAT credit of duty taken in respect of closing stock as on 31.3.2010, proceedings were initiated culminating in confirmation of demand for duty of Rs. 1,12,732/- with interest and equal amount of penalty has also been imposed. The facts in brief as submitted by the appellant are as under: Appellant is engaged in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on i.e., 80% of pig iron contained in closing stock is of CENVAT availed quantity. Erroneous quantification of demand (both qty. and rate of duty). CENVAT contained stock is only 18,087 kilograms as per the enclosed worksheet. Allegation of suppression is baseless as the closing stock is reflected in ER-3 return for the quarter ending March 2010. Findings contradictory to SCN. 2. After hearin....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t the figures are correct and the unit has closed down and now it may not be possible to do any further verification also even though learned counsel promised to produce records. Having regard to the amount involved and having regard to the fact that appellant is a SSI and prima facie, I found that the figures are alright, I consider that it would be appropriate to dispose of the appeal itself rat....