2016 (4) TMI 235

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....duja Foundries Ltd., Sriperumbadur, the appellants herein, are manufacturers of Unmachined Rough Iron Casting and are registered with Central Excise and are availing cenvat credit on inputs and service tax paid on input service for the liability of excisable goods. During the period April 2011 to August 2011, they availed cenvat credit of Rs. 1,03,015/- being service tax paid on various insurance ....

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....ons of the Rules, there is no specific allegation so as to hold that they are guilty of having committed fraud, collusion or suppression of facts or made any wilful misstatement with an intent to evade payment of duty. I find that the entire issue involves interpretation of provisions of Cenvat Credit Rules and therefore, imposition of high equal penalty of Rs. 1,03,015/- is not warranted. A penal....

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....riod shall be calculated by the jurisdictional Central Excise Officer.  (4) The penalty imposed is reduced to Rs. 10,000/- under Rule 15 (1) of the CCR, 2004. Appellants being aggrieved with the order of Commissioner (Appeals) are in appeal before this Tribunal. 2. The learned counsel appearing on behalf of the appellant-assessee Shri M. Kannan, Advocate submits that now the disputed amo....