2016 (1) TMI 730

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....R, for the Respondent. ORDER The appellant is in appeal against the impugned order for setting aside the mandatory penalty under Section 11AC of the Act. 2. The facts of the case are that the appellant is a manufacturer of Switches, Valves, copper wire, IC's etc. and they are importing certain component for manufacturing of goods for export. During the period 2008-09 the appellant written ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the said inputs as obsolete in their books of account and did not reverse Cenvat credit pertaining to them but later on, these inputs were used for manufacturing of final product which were lying in their factory at the time of audit. Therefore, it is only the procedural lapse by the appellant as these inputs have been used by the appellant for manufacturing of final product. For these procedural....