2017 (8) TMI 1453

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.... ORDER M.V. Ravindran 1. This appeal is directed against the Order-in-Appeal No. MYS-EXCUS-000-ADC-APP-HAB-049-2014 dated 07.05.2014. 2. Heard both sides and perused the records. 3. The issue that falls for consideration in this appeal is whether the appellant has to be visited with equivalent amount of penalty under the provisions of Rule 15(2) read CENVAT Credit Rules, 2004 read with Sectio....

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....ed out by the authorities that provisions of Rule 3(5B) of CCR, 2004 are applicable, reversed the entire CENVAT credit along with interest.  Statements were recorded and a show cause notice was issued for the demand of the said amount and appropriation of the amount so deposited.  Adjudicating authority after following due process of law, confirmed demands raised with the interest and al....

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.... status of the company to their shareholders.  Non-reversal of central excise duty involved in the obsolute goods would in no way be considered as an act done with intend to evade payment of duty and that also by alleging suppression. It is also to be noticed that though provisions of Rule 3 (5B) introduced in CCR, 2004, there is no recovery mechanism which has been put in place to enable rec....