9911796707
TMI Blog2010 (6) TMI 400X X X X Extracts X X X X X X X X Extracts X X X X ..... s no justification for ordering recovery of interest - factual verification as to whether there was sufficient credit in the accounts of the appellants so as to refrain from ordering recovery of interest, the matter requires to be sent back – Matter remanded - E/948-949/2008-SM(BR) - 732-733/2010-SM(BR)(PB) - Dated:- 30-6-2010 - Shri M. Veeraiyan, Member (T) REPRESENTED BY : Shri An ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On advise by the officers, the appellants reversed the credit in respect of the consignments which have not been received within 180 days. However, subsequently they have received all these consignments and on receipt of these consignments, they have taken re-credit of credit already reversed by them. Original authority has confirmed interest for the period immediately after 180 days till the date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f reversal of credit, they had sufficient credit under Cenvat account and they have not derived any monetary benefit. Even if they had reversed the credit on 181st day and taken re-credit on receipt of the inputs, there was no significance, as they had sufficient balance in their Cenvat account. Under these circumstances, the order for payment of interest is not justified. On the same ground, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng under Rule 4(5) of the Cenvat Credit Rules, 2002, have all been received back, though, in some cases, after 180 days. It has also been confirmed by the original authority that substantial requirement of duty payment stands fulfilled voluntarily. If the claim of the appellants that they had sufficient credit in their account is true, then there is no justification for ordering recovery of intere ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... indings of the original authority that the disputed consignments have been received back by the appellants and the credit reversed/duty paid voluntarily, I do not find justification for sustaining the penalties. As already noted, the goods have been received back and the appellants have taken back the credit reversed by them. 8.In view of the above, the appeals are disposed of as follows : (a) ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
