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TMI Blog2011 (8) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... ates, Beams etc., till the matter was settled - there were decisions taking a view that credit is admissible on these items, it cannot be said that appellant indulged in suppression of facts/ mis-declaration with an intention to evade payment of duty - Decided in favour of the assessee - E/1961 of 2010 - - - Dated:- 1-8-2011 - Mr. B.S.V. Murthy, J. For Appellant : Shri J.C. Patel, Advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... culminated into an impugned order thereby a view has been taken that interest is chargeable when wrongly availed credit has not been utilised prior to reversal and penalty under Section 11AC is imposable. 2. Heard both sides. Learned counsel on behalf of the appellants submitted that in view of the decision of the Hon'ble Supreme Court in the case of UOI vs. M/s. Ind-Swift Laboratories Limite ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f M/s. Ind-Swift Laboratories Limited, the interest is payable and learned counsel fairly admitted this. 4. As regards penalty, I find that, as submitted by the learned counsel that there were several decisions of the Tribunal taking a view that cenvat credit is admissible on MS Angles, Channels, Beams, Plates etc. as detailed below :- (a) Ispat Industries Limited vs. CCE Mumbai 2006(195) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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