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TMI Blog2015 (10) TMI 1666X X X X Extracts X X X X X X X X Extracts X X X X ..... e time of clearance. The word ‘amount’ used in Rule 3(4) is with, reference to duty alone. In fact, whenever such an amount is reversed the same can also be used as credit by the recipient of such goods. In these circumstances; I do not find any force in the appellant’s contention that they are not liable to pay the interest. I accordingly, order that the appellant will pay the interest from the d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the audit, it was pointed out since the dies have been cleared as such, they are required to reverse the amount equal to the Cenvat credit availed as per Rule 3(4) of Cenvat Credit Rules, 2002. On being pointed out, the applicant reversed the credit taken. Now the dispute is relating to interest and penalty. 2. Ld. counsel for the appellant submitted that there was no intention to evade an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gings - 2013 (294) E.L.T. 145 (T-Chennai). 4. Considered the submission made by both sides. 5. It Is seen that the applicant was expected to reverse the Cenvat credit at the time of clearance. The word 'amount' used in Rule 3(4) is with, reference to duty alone. In fact, whenever such an amount is reversed the same can also be used as credit by the recipient of such goods. In these cir ..... X X X X Extracts X X X X X X X X Extracts X X X X
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