2015 (10) TMI 1230

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.... G.P. Thomas, AR Per: H.K. Thakur These appeals have been filed with respect to O.I.A No. SRP/91-98/VAPI/2012-2013. 2. When these appeals were called out for hearing none appeared on behalf of appellant Tarvinder Singh Dhody. Shri A.M. Chitnis (Consultant) appeared on behalf of all the other four appellants. Shri G.P. Thomas (AR) appearing on behalf of the Revenue argued that in these pro....

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....redit Rules, 2002. He also relied upon CESTAT Delhi decision in the case of Ashok Verma vs Commissioner of Central Excise, Delhi-IV [2013(293) E.L.T. 410 (Tri.  Del.)] to argue that this was also held in this case law that Director of a Company cannot be visited with a penalty for taking improper credit. 4. Heard both sides and perused the case records. The issue involved in the present pr....

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....he records. The allegation against the appellant is that he intentionally allowed availment of Cenvat credit on the basis of bogus invoices issued by three registered dealers in a fraudulent manner. As such there is no allegation against the appellant that he had dealt with any excisable goods which he knew or had reason to believe were liable to confiscation. Under Rule 26 of the Central Excise R....

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....nother assessee is likely to take some ineligible benefit. Thus, as such this rule also cannot be applied to those who have taken ineligible Cenvat credit. The only provision for imposing penalty for taking Cenvat credit wrongly is Rule 15 of Cenvat Credit Rules, 2004. under which the penalty can be imposed on the person who takes the Cenvat credit wrongly. Since in this case, Cenvat credit has be....