TaxTMI 
TaxTMI 
2018 (8) TMI 353
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....ingh The brief facts of the case are that appellant registered with the Department for manufacture of tractors parts and are availing Cenvat credit on inputs and capital goods. During the Audit conducted on 28th & 29th March, 2016 for the financial year 2014-15, it was found that the appellant had been availing Cenvat credit for common input service such as manpower recruitment agency service, se....
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....d appropriated the amount already deposited by the appellant. However, the adjudicating authority did not impose any interest and gave a finding that the assessee had sufficient balance to adjust the said amount of Rs. 12,52,024/-. However, the adjudicating authority imposed penalty of Rs. 12,52,024/- under Rule 15 of Cenvat Credit Rules 2004 read with Section 11AC of Central Excise Act, 1944. In ....
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....incipal Commissioner of Central Excise, Bangalore vs. M/s.Vilax Industrial Fabrics Survey-2018- TIOL-1363-HC-KAR-CX. 3. Ld.AR for the Revenue reiterated the findings of the adjudicating authority as well as Commissioner (Appeals). 4. Heard both sides and perused the record. 5. I find that in this case show cause notice was issued on 24.6.2016 for recovery of Cenvat credit and appropriation of t....
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.... as below:- "6. From the records, it is observed that the assessee had availed the wrong credit in their account but has not utilized the same and after it was pointed out by the audit party the same was reversed by the assessee. In such circumstances, the Tribunal has rightly held that there was no intention on the part of the assessee to evade payment of tax and the assessee had not utilized t....