2015 (10) TMI 1670

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....yan, Adv. For the Respondent : Mr Pakshi Rajan, (AR) ORDER Per: B S V Murthy: The appellant was functioning as M/s. Kalmar India Pvt. Ltd. in the year 2006 and had two premises one in Mumbai and another in Bangalore. In March 2006, the Bangalore premises cleared inputs as such and reversed equivalent credit ofRs.24,83,035/-. The inputs were received in Mumbai and in the ST-3 returns in....

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....of the Finance Act, 1994 have been imposed. 2. After hearing both the sides I found that the appeal itself can be decided. Accordingly, the payment of pre-deposit is waived and appeal is taken up for final decision. 3. The only ground on which CENVAT credit has been denied and demanded is that the appellant should have reversed it and transferred it under a proper invoice. As a result of mer....

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....re followed by the appellant for transferring the stock of inputs just by reversal without raising a proper invoice to their Mumbai Unit was not in accordance with the law. Since the denial of credit cannot be sustained, the demand for CENVAT credit availed with interest and penalty under Section 78 on the appellant cannot be sustained. Further, penalty of Rs. 10,000/- has been imposed under Secti....