2016 (9) TMI 838

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....resentative ORDER Heard both sides and perused the records. 2.  The issue involved is whether penalty under Section 11 AC of the Central Excise Act, 1944, is imposable on the appellants even when they have reversed the CENVAT credit and interest before issuance of show cause notice.  The Learned Counsel for the appellants submitted that they had reversed the wrongly availed the CENVAT....

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....en found to be repeatedly taking irregular credit and at times reversing the same by themselves and at times on being pointed out.  In the instant case also, they had taken CENVAT credits irregularly which were detected by the Audit Party.  His contention is that if the Audit Party had not detected in same, it would have escaped notice.  He therefore contends that the penalty is rig....