2008 (10) TMI 551

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..... ]. This is an appeal against the demand of interest and imposition of penalty in respect of credit taken by the appellant on the capital goods which was not utilized by them. As per the appellant s contention, they have brought some capital goods during the year 2003-04 and instead of taking 50% credit in the said financial year they by mistake had taken full credit of 100%. Some other items .....

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..... ised. This decision has been upheld by the Supreme Court as reported in 2007 (214) E.L.T. A50 (S.C.). Attention has also been invited by the Tribunal decision in Ind-Swift Ltd., 2007 (208) E.L.T. 212 = 2007 (5) S.T.R. 14 wherein it has been held that penalty is not imposable where credit is taken on the inputs but not utilised. Following these two decisions, I am in respectful agreement with them .....

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