2018 (7) TMI 78

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....ramaniyan, AC (AR) For the Respondent Per Bench Brief facts are that the appellants are engaged in the manufacture of cement, clinkers, etc. They are availing the facility of CENVAT Credit of duty paid on capital goods/inputs and input services in accordance with the Cenvat Credit Rules, 2004 ('Çredit Rules'). In the course of setting up new cement factories at Gulbarga District of Karn....

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....ty confirmed the demand, interest and imposed penalty. Aggrieved by the imposition of penalty, the appellant is now before the Tribunal. 2. On behalf of the appellant, the Ld.counsel, Shri Raghavan Ramabhadran submitted that the appellant had reversed the credit alongwith interest immediately on coming to know of the error in availing the credit. That the appellant is not challenging the demand o....

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.... Heard both sides. 5. The appellant has submitted that they are contesting only the penalty imposed. It is brought out from records that the appellant had disclosed the wrongly availed credit in their ER 1 Returns. This fact indicates that the appellant had no intention to evade payment of duty and the credit was availed under the wrong impression of law. The act of the appellant immediately reve....