2017 (12) TMI 944

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....amurthy, AR - For the Respondent ORDER Per: S.S GARG The present appeal is directed against the impugned order dated 21.3.2017 passed by the Commissioner (A) whereby the Commissioner (A) has rejected the appeal of the appellant. 2. Briefly the facts of the present case are that the appellants are engaged in manufacturing of parts of AC falling under Chapter 84 of Central Excise Act, an....

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....sought explanation for recovery of credit of Rs. 1,85,573/- along with interest and penalty under Section 11AC of Central Excise Act and CENVAT Credit Rules. After following the due process, the Assistant Commissioner confirmed the demand of Rs. 1,85,573/- and appropriated already reversed amount of Rs. 1,60,975/- and confirmed interest and imposed a penalty of Rs. 92,786/-. Aggrieved by the said ....

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....After considering submissions of both the parties and perusal of the material on record, I find that the appellants have reversed the credit of Rs. 1,60,975/- in June 2014 itself and he has also paid interest of Rs. 90,341/- payable under Rule 14 of CENVAT Credit Rules, 2004 and according to his submission, this may also be adjusted against the demand and taking both into consideration, he pays th....