2020 (4) TMI 240

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....BA RAO, MEMBER (TECHNICAL) Appearance None for the Assessee. Shri L.V. Rao, Authorized Representative for the Revenue. [Order per: P. VENKATA SUBBA RAO.] 1. Appeal E/273/2009 has been filed by the Revenue and appeal E/354/2009 has been filed by the assessee against the same impugned order No. 13/2008-09 (RS) dt.29.12.2008. Accordingly, both the appeals are being disposed of together....

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....ure of capital goods and not in the nature of inputs. Accordingly, as per Rule 4(2)(a) of CCR, 2004, as applicable during the relevant year, the assessee was entitled to take Cenvat credit of only 50% of the total Central Excise duty paid on the moulds during the financial year. They could have taken the remaining credit of 50% during the following year. As the assessee has contravened the provisi....

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....fore the date on which they could have taken. Accordingly, she only confirmed an interest of Rs. 5,39,380/- upon the assessee. As the assessee had already paid an amount of Rs. 3,88,148/-, she ordered them to pay the remaining balance of Rs. 1,51,232/- as interest on the inadmissible Cenvat credit taken during the period 2005-06. She also imposed penalty in terms of Rule 15(2) of CCR, 2004 amounti....

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....oner in the impugned order. On perusal of Rule 15(2) of CCR, 2004, it would show that it is a clause meant for imposition of penalty in cases where the Cenvat credit in respect of inputs or capital goods or input services has been taken or utilized wrongly by reason of fraud, collusion, any wilful misstatement or suppression of facts or contravention of any of the provisions of Excise Act or the r....