Custom, Excise & Service Tax Tribunal
M/S. Almondz Insurance Brokers Pvt. Ltd vs Cce, New Delhi on 13 July, 2012
CUSTOMS, EXCISE & SERVICE TAX APPELLATE TRIBUNAL,
WEST BLOCK NO.II, R.K. PURAM,
NEW DELHI-110066
COURT NO. II
ST/Stay/2320/12 in &
Service Tax Appeal No. 922/2012-SM
[Arising out of Order-in-Appeal No. 53/ST/DLH/2012 dated 26.3.2012 passed by the Commissioner (Appeals), Central Excise, New Delhi]
Date of Hearing/decision: 13th July, 2012
M/s. Almondz Insurance Brokers Pvt. Ltd. Appellant
Vs.
CCE, New Delhi Respondent
Present for the Appellant : Shri Atul Gupta, C.A. Present for the Respondent : Ms. Shweta Bector,D.R. Coram: Honble Shri D.N. Panda, Judicial Member;
FINAL ORDER NO. ________________ Per D.N. Panda:
Learned Chartered Accountant says that Cenvat credit was utilised for a short time without having balance over and above that amount during material period in statutory record. Tax demand on that count has already been deposited and his client shall also deposit interest. Prayer of the appellant is to reduce penalty since use of Cenvat credit was only for a period of 6 months. He submits that if concession is granted that shall serve the purpose. He prays that both stay application and appeal may be disposed.
2. Learned D.R. supports the order of the lower authorities.
3. Heard both sides and looked into the appellate findings.
4. In para 4 of the order learned authority found that there was admission of liability and that remained undisputed. Therefore, there is nothing more to dilate the matter for which demand in adjudication was confirmed. Once such a confirmation is made, interest shall follow. Now only question of penalty is left. Appellants prayer although appears to be under Section 80 of the Finance Act, 1994, conduct of the appellant does not reflect to be fair when public money was enjoyed without credit being available on record. However, to reduce the dispute, penalty is reduced to 25% of tax element which shall be payable within 30 days of receipt of this order. Failure to make payment shall render appellant to pay entire penalty imposed in the adjudication.
5. Appeal calls for disposal in the manner indicated above. That is ordered accordingly. In view of such order, stay application is dismissed. (Dictated & pronounced in the Open Court.) (D.N. PANDA) JUDICIAL MEMBER RK 2 ST/922/2012-SM