2016 (11) TMI 933

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.... C.S., Member (Judicial) [Order per: Sulekha Beevi, C.S.] The above appeal is filed challenging the penalty imposed under Section 11AC against the appellant. 2. The appellant is a manufacturer of concrete weight coated pipes and the appellant had stock transferred used capital goods to their related units and availed CENVAT credit of Rs. 61,96,264/- during the period August 2010 to Februa....

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....thus before this Tribunal. 3. On behalf of the appellant referring to the different dates on which the duty the period for which the audit was conducted. He submitted audit for the period August 2010 to February 2011 the month of July 2011. The appellant had capital goods into their site during the period August February 2011. They availed credit on these capital goods and its usage they re-tra....

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....uty of Rs. 54,25,181/- was paid by the appellant only on pointing out by the Department pursuant to the audit of records. He contended that the appellant having suppressed facts is liable to pay penalty and that the penalty imposed is just and proper. 5. I have heard both sides and have gone through the records. I agree with the arguments put forward by the learned counsel for the appellant ref....