2015 (8) TMI 1351

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...., for the Respondent. ORDER Confirmation of interest on account of late payment of Central Excise Duty and imposition of penalty, are the subject matter of present dispute. 2. Shri Kapil Vaish, the ld. CA appearing for the appellant submitted that the appellant had reversed the amount equivalent to the duty on inputs, used in the manufacture of exempted goods, in the Cenvat account d....

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....e statutory requirement, the reversal particulars were furnished in the monthly returns, the show cause notice was required to be issued within one year from the date of filing of such returns. As the show cause notice in this case has been issued in 2008, in my opinion, the same is barred by limitation of time, since the fact of taking irregular credit was known to the Department way-back in 2003....