2015 (10) TMI 287

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....ce of Cenvat credit amounting to Rs. 120,89,756/-. Revenue's contention is that the said amount of unutilised credit will stand lapsed in view of the Board Circular No. 77/99-Cus dated 18.11.1999. The appellant was issued a show-cause notice dated 26.06.2012 proposing to recover the said amount invoking the extended period of limitation, recovery of interest under Section 11AB and also equal amount of penalty under Section 11AC. The case was adjudicated wherein Commissioner vide impugned order has confirmed the charges in the show-cause notice. 2. The ld. Counsel for the appellant submitted that there is no provision under the CENVAT Credit Rules, which provides lapsing of Cenvat Credit on conversion of DTA unit to 100% EOU. He furth....

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....ter conversion into 100% EOU. Ld. AR further submitted following case law in support of invoking the extended period of limitation. i) CCE vs. SKF India 2009 (239) ELT 385 (SC) ii) Alaska Tyres P. Ltd. 2002 (145) ELT 329 iii) Jaishri Engineering Co. (P) Ltd. vs. CCE 1989 (40) ELT 214 (SC) iv) CCE vs. Neminath Fabrics P. Ltd. 2010 (256) ELT 369 v) Union Quality Plastic Ltd. vs. CCE & ST 2013 (294) ELT 222 (Tri-LB) 4. Considered the submissions of both sides. 5. We find that this issue has already been decided by this Tribunal in the case of Sandoz Pvt. Ltd. vs. CCE -E/2303/2006. The said order of the Tribunal has been upheld by the Hon'ble High Court of Bombay as reported in - E/2303/2006 We also note that based upon....