2015 (12) TMI 935

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....atswal, C.A. For the Respondent : Shri V.K. Agarwal, Additional Commissioner (AR) ORDER The appellant filed this appeal against the impugned order whereby a demand of Rs. 11,17,450/- with interest is confirmed under Section 11A of the Central Excise Act read with Rule 14 of the Cenvat Credit Rules. A penalty of the equal amount is also imposed under the provisions of Section 11AC of the C....

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.... appeal of the Revenue and the Commissioner (Appeals) modified the adjudication order and imposed penalty under Section 11AC of the Act as well as confirmed the demand of interest. 3. The contention of the appellant is that it is not a case of wrongful taking of credit. The credit was availed rightly at the time of receipt of the inputs in the factory. However, due to oversight, the credit of S....

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.... the credit of SAD during the period March 2005 to November 2006 and cleared the inputs as such without reversing the credit of SAD availed on such inputs, it was only reversed in the month of December 2006. In these circumstances, as the appellant had wrongly retained the amount of credit hence the appellants are liable for interest on the amount under Section 11AB of the Central Excise Act. In r....