2008 (3) TMI 71

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..... assessee’s availing credit on 1.4.05 of the tax paid was wrong and have demanded interest for the delay in reversing the same (on 29.3.06) – assessing authority approved the payment of tax relating to the half-year 2005, as correct – hence credit was rightly availed – appeal allowed - S/PD/162/07 & S/220/07 - 191/2008 - Dated:- 4-3-2008 - Shri. P. Karthikeyan, Member (Technical) [Order] .....

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..... ginal authority confirmed demand of the credit holding it as irregular, demanded appropriate interest and imposed a penalty of Rs.5000/-. The impugned order upheld the order of the original authority except the penalty which he vacated. The application seeks waiver of predeposit of interest and stay of its recovery. After hearing both sides on the stay application, the appeal itself is taken up .....

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