2015 (12) TMI 1310

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....ocate, Shri P P Jadeja, Advocate & Shri Paritosh Gupta, Advocate ORDER Per : Mr.P.K. Das, The Learned Advocate appearing on behalf of the appellant submits that they are not contesting the demand of the Cenvat Credit of Rs. 20,12,181/-, which they have reversed immediately after detection by themselves. The main contention of the Learned Advocate is that they have not utilized the credit and th....

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.... of interest. 3. After hearing both the sides and on perusal of records, I find that the dispute in the present appeal, relates to, as to whether the imposition of penalty of equal amount of Cenvat Credit under Rule 15(2) of the Rules and Section 11AC of the Act is warranted. For the purpose of proper appreciation of the case, the relevant portion of the impugned order is reproduced below: &nbs....

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....sh vide Challan, for late filing of the return. I find that the closing balance was Rs. 40,21,011/-(Rs 39,27,024/- S.Tax + Rs. 93,987/- Edu. Cess), the remaining amount after rectification of Rs. 20,12,181/- has been transferred to the ER.1. I find that Rs. 20,12,161/- (Rs 19,72,727/- S.Tax + Rs. 39,454/- Edu. Cess) was taken by the appellant twice in the ER1 return as well as ST3 return for the....

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....Learned Advocate relied upon the following decisions: a) Ranbaxy Laboratories Ltd vs. CCE, Chandigarh -2012.26.STR.183 (Tri.Del.) b) CCE, Allahabad Vs Balrampur Chini Mills Ltd - 2014.300.ELT.499 (Tri.Del.) c) Bombay Dyeing & Mfg Co Ld Vs CCE, Mumbai IV - 2007.215.ELT.433 (Tri.Mum) It is noticed that the appellant themselves paid the penalty of Rs. 2000/- for filing revised return under Sec....