2008 (2) TMI 70

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.... Satapathy, Member (T)]. -1. Heard both sides. As the appeal itself can be disposed off today, we dispense with the requirement of pre-deposit and with the consent of both sides, take up the appeal for hearing and disposal. 2. We find that the appellants did not have enough credit in their CENVAT Account, but debited an amount of Rs. 29,00,155/- on two occasions for September, 2000 and December....

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.... the amount subsequently paid from the CENVAT Account. This will be merely a mechanical exercise without any purpose. However, we direct the appellants to pay the interest on the amount which remained unpaid from the date of overdrawing CENVAT Account till actual made subsequently against available credit. As regards the penalty of Rs. 5.00 lakhs (Rupees five lakhs) imposed on the appellants, cons....