2018 (2) TMI 1552

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.... Finolex Cables Ltd are in appeal against order-in-appeal no.PUN-EXCUS-001-APP-182-14-15 dated 4th February 2015 of Commissioner of Central Excise (Appeals), Pune - I which has upheld the order of the lower authority confirming demand of Rs. 2,01,568/- along with interest thereon, and imposed penalty under rule 15(2) of CENVAT Credit Rules, 2004. The appellant utilized the credit of duty paid unde....

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.... the appellant. 3. Heard the learned Authorised Representative and perused the records. 4. It is seen that penalty has been imposed in accordance with rule 15 of CENVAT Credit Rules, 2004 which relies upon the statutory mechanism of section 11AC for implementation. No evidence has been placed on record by the appellant that the ingredients for invoking of section 11AC were not in existence. ....