2017 (6) TMI 159

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ayment of duty and the appellant had taken credit of the duty paid on such goods. According to the appellant, they made some process on those goods and cleared the same on payment of appropriate duty on the value added price. A Show Cause Notice dated 03.04.2014 was issued proposing demand of inadmissible Cenvat Credit of Rs. 3,56,74,236/- along with interest and penalty. Show Cause Notice also proposed to impose penalty on the Director and the Commercial Manager of the appellant company. The Commissioner of Central Excise, Bolpur confirmed the demand of Rs. 3,56,74,236/- along with appropriate interest and imposed penalty equal to the demand in terms of Rule 15(2) of Cenvat Credit Rules, 2004 read with Section 11AC of Central Excise Act, 1....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....(287) ELT 15 (Guj.)] 3. Ld.Advocate vehemently argued that the ld.Commissioner did not advert to the submissions of the appellant that they had taken credit on the goods on stock-transfer basis and cleared the same in the value added price on payment of duty. The payment of duty by the appellant nullifies everything about the irregularity and inadmissibility of the credit and accordingly entire proceeding initiated is wholly on the basis of assumption and without appreciating proper interpretation of the statutory provisions. He further contended that the Commissioner's finding in respect of the invocation of extended period and imposition of penalty is also not tenable in the eye of law. The imposition of personal penalty on the Dir....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... that they have received incomplete, semi-finished, partially processed goods from their Durgapur Unit because the goods have excess carbon and as such the goods were brought to their Burdwan unit for further processing. But the Noticee have failed to submit any documentary evidence in their reply to the Show Cause Notice and/or during the course of Personal Hearing in support of their defense that the goods were actually some metallurgical problem and required some further process at Burdwan Unit which they cannot undertake at their unit at Durgapur. 3.12. The Noticee have also stated that the marketability of said goods have lost due to some metallurgical problem and of excess carbon contained. But the said Noticee have not provi....