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TMI Blog2016 (3) TMI 303X X X X Extracts X X X X X X X X Extracts X X X X ..... envat Credit. Therefore, in such a situation, the appellant is not liable to penalty. But the appellant is certainly liable to pay interest on the said amount as per the rate applicable under the provisions of the Section 11AB of the Central Excise Act, 1944. Therefore, partly allow the appeal by setting aside the penalty imposed on the appellant and hold that the appellant is liable to pay interest from the date he availed the Cenvat Credit till he reversed the same as per the provisions of Section 11AB of the Central Excise Act. - Decided partly in favour of assessee - Appeal No. E/2094/10-Mum - Final Order No. A/85468/2016-WZB/SMB - Dated:- 29-1-2016 - SS GARG, MEMBER (JUDICIAL) For the Petitioner : Shri Apollo M Moghe, Adv. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after the appellant accepted the contention of the department and immediately reversed Cenvat Credit under reference on 30.08.2003 vide RG 23A part II entry no. 671. Thereafter the same fact was also pointed out by the audit party and the Range Supdt. informed the appellant the observation of the audit party vide letter dated 03.03.2005 and thereafter show-cause notice was issued on 28.03.2008, after the expiry of 44 months from the date of the audit. Appellant replied to the show-cause notice and after considering the same, the Adjudicating Authority confirmed the demand and appropriated the same paid through Cenvat Credit account by the appellant. On appeal, the Commissioner (Appeals) upheld the Order-in-Original and the appellant has fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the department by showing the same in the monthly returns and from their returns the Superintendent Central Excise pointed out the mistake and the appellant immediately reversed the Cenvat Credit from his Cenvat Credit account. Since the appellant has already reversed the Cenvat Credit wrongly availed, now the question is whether the appellant is liable to pay interest and penalty. 7. From the facts and circumstances, I find that there is no suppression of any fact or any willful misstatement made by the appellant so as to justify invoking the extended period of limitation, and further the appellant has admitted his mistake and reversed the Cenvat Credit. Further, the contention of the appellant that notification clarifying the earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X
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