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TMI Blog2009 (9) TMI 491X X X X Extracts X X X X X X X X Extracts X X X X ..... f facts as assessee availing benefit of decision of Apex Court and after subsequent another decision of apex Court reversing earlier order, immediately paid duty. Neither deferment of payment or any delay as assessee availing benefit of Apex Court decision. Credit further not utilized. Impugned order setting aside interest and penalty upheld. - E/1478/2007 - A/602/2009-WZB/C-IV/SMB - Dated:- 29-9-2009 - Shri Ashok Jindal, Member (J) Shri S.M. Vaidya, JDR, for the Appellant. Shri Bharat Raichandani, Advocate, for the Respondent. [Order].- This appeal is preferred by the Revenue against the order of the dropping the interest and penalty against the respondents. 2. The brief facts of the case are that the respondents ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d at the time of clearance of exempted goods. Accordingly, a demand of Rs.7,02,041/- was raised for the period of May, 2005 to February, 2006 along with interest as applicable and equivalent amount of penalty. The respondents never informed the department that they have reversed the Cenvat credit of Rs.7,02,041/- on 18-8-2006 and with regard to the interest they submitted that as they have utilized the duty credit and maintained the credit balance sufficient to set out the liability throughout till date of payment of such amount, the interest is not leviable. The respondent further submits that the penalty under Section 11AC not applicable as there was no wilful representation of suppression of facts with intend to evade payment of duly. Bu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T. 30 (S.C.), which allows this credit and they would not be reversing the Cenvat credit for future clearances. But when the Supreme Court in the case of Amrit Paper v. CCE, Ludhiana , 2006 (200) E.L.T. 365 (S.C.) 2008 (12) S.T.R. 536 (S.C.) held that Cenvat credit was supposed to be reversed, the respondent immediately paid the 10% of the price of the exempted goods cleared during the impugned period. 5. With regard to the interest, he submitted that the Supreme Court in the case of Maruti Udyog Ltd ., 2007(214) E.L.T. 173 (P H) held that the assessee is not liable to pay interest as the credit was only taken as entry in the Modvat record and was not in fact utilized. 6. In view of these submissions, he submits that there i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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