2012 (9) TMI 857

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..... in this case instead the appellant could have been asked to work out the eligible amount of credit in each year and pay interest for the inadmissible credit availed by them. The offer made by the learned advocate to recalculate the credit admissible and to work out the amount of interest payable, is fair and acceptable - Accordingly, the demand for cenvat credit is set-aside and appellant is dire .....

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..... owever, no penalty has been imposed. 2. Learned advocate submits that the credit of Rs. 7,95,986/- could not have been denied to them since they were entitled to take 50% of the credit in the next year. Consequently what is required to be done is that the eligible amount for each year has to be worked out and only interest is required to be paid, which he fairly agrees that appellant is liable t .....

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