2010 (10) TMI 1032

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dicial Member:- 1. In as much as the Appellants have deposited entire amount of Rs. 39,30,378, we allow the Stay Petition and proceed to decide the appeal itself, as the issue is prima facie covered. The Appellant is engaged in manufacture of various excisable goods and were availing the benefit of CENVAT Credit of duty paid on input, capital goods and input services under CENVAT Credit Rules, ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ds. 3. In view of the above, proceedings were initiated against the Appellant byway of issuance of Show Cause Notice dated 29th February, 2008, proposing recovery of CENVAT Credit of Rs. 39,30,378 and for confirmation of interest and imposition of penalty. The said proceedings resulted in passing of an order by Additional Commissioner, confirming demand along with interest and imposing penalty ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....would not amount to exemption from payment of duty and as such there is no liability on the Assessee to pay 10 per cent under Rule 6(3)(b) of CENVAT Credit Rules, 2004. For arriving at above proposition, Tribunal relied upon the precedent decision in case of M/s Tanfac Industries Ltd. v. CCE, 2009 (235) ELT 103 (Tri-Chennai), laying down that once an amount is debited to DEPB script, it has to be ....