2016 (11) TMI 265

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.... Singh, Superintendent (AR) ORDER Per: Anil Choudhary The appellant a manufacturer of injection moulded plastic parts and moulded plastic components etc. are in appeal against Order-in-Appeal dated 29/8/2007 passed by the Commissioner (Appeals) Customs and Central Excise, Meerut - II. 2. The issue in this appeal is whether under the facts and circumstances, extended period of limitatio....

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....on moulds and dies during the period October 2003 to May 2004. The appellant immediately replied by their letter dated 24/11/2004 taking the stand that the said credit was taken as available in terms of Circular Number 747/63/2003 - CX dated 22/9/2003 issued by CBEC. It is further contended that the said Circular provided for full Cenvat credit in the year of acquisition itself. 4. Subsequently....

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....balance credit on capital goods in the first year itself. Further the amount of Rs. 3,12,718/- was confirmed being demand of duty for over drawn amount along with interest. Penalty was reduced to Rs. 4,40,000/-. Being aggrieved the appellant - assessee is in appeal before this Tribunal. 6. The ld. Counsel for the appellant urges that under the facts and circumstances, it is an admitted fact tha....

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....ces there is no mala fide and /or contumacious conduct on the part of the appellant in availing 100% Cenvat credit on moulds and dies during the period October, 2003 to May, 2004. It is further an admitted fact that the appellant have calculated the interest element and paid the same on the excess credit so taken in for the first year under intimation to the Revenue, before the issue of show cause....