2015 (12) TMI 935

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the month of December 2006. In these circumstances, as the appellant had wrongly retained the amount of credit hence the appellants are liable for interest on the amount under Section 11AB of the Central Excise Act. In respect of penalty, I find that the appellant had only availed the credit but had not utilized and the credit was rightly availed at the time of receipt of the inputs in the factory .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e Rules. 2. The brief facts of the case are that the appellant availed credit of duty paid on imported inputs/capital goods. The appellant cleared inputs as such after reversing CVD. The Revenue made investigation and it was found that while clearing the inputs as such, the applicant had not reversed the credit of special additional duty (SAD). During investigation, the appellant paid the amoun .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s as such hence it is not a case for demand of interest and penalty. 4. The appellant also submitted that when the Revenue pointed out the deficiency, the appellant immediately paid the amount in dispute. 5. The appellant also submitted that in case the appellant had reversed the credit, the recipient of the inputs would have availed the credit hence the whole exercise is revenue neutral. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X